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Article: Elbit Systems to Invest $18 Million for 19% of Mikal Ltd. With an Option to Acquire the Remaining Shares.
- Article from:
- PR Newswire
- Article date:
- June 15, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HAIFA, Israel, June 15 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. , announced today that it signed an agreement with Mikal Ltd. ("Mikal") under which it will invest approximately $18 million in Mikal in consideration for the issuance of approximately 19% of Mikal's shares. As part of the of the agreement, Elbit Systems also will be granted the option to purchase all of the remaining shares of Mikal from its shareholders.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080408/300441 )
In the first stage of the transaction, Elbit Systems will transfer to Mikal $18 million, which will serve as a loan. After receiving authorization from the Israeli Antitrust ...