Article: Israel : Granite to buy Ocif stake in Palmachim desalination plant.

Byline: Mamta03

Azrieli Group unit Granite Hacarmel Investments Ltd. (TASE: GRNT) is negotiating to buy Ocif Investments and Development Ltd. (TASE: OCIF) stake in the Via Maris Desalination Ltd. consortium, which manages the Palmachim desalination plant.

At present Granite Hacarmel unit GES Global Environmental Solutions Ltd. owns 27.9% of Via Maris, Kardan NV (TASE: KRNV;AEX:KARD) unit Tahal Group 27.9%, Ocif 22.1%, and B. Gaon Holdings Ltd. (TASE: GAON) unit Gaon Agro Industries Ltd. (TASE: GAT) subsidiary Middle East Tube Ltd. (TASE:TUBE) 22.1%.

Negotiations are being conducted, at a company value of NIS 244 million. Therefore, Granite ...

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