Israel Chemicals will sell 50 percent of its holdings in Israel Desalination Engineering (IDE) Technologies to Delek Investments & Properties for $18 million, according to an agreement signed between the two companies Thursday cited by The Jerusalem Post.
The amount does not include the company's land, which will remain in Israel Chemicals’ control. In addition, Delek will take on half of Israel Chemicals' guarantees for IDE.
Israel Chemicals and IDE Technologies chairman Yossi Rosen told the paper that the agreement creates a business partnership, which will serve as a basis for expanding international activities of the desalination concern in cooperation with investors and various organizations, including those from abroad – Albawaba.com
© 2000 Al Bawaba (www.albawaba.com)
