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October 23, 2014 11:48 am

‘Israeli Military Industries’ Up for Sale to Private Bidders

avatar by Tzvi Zucker / Tazpit News Agency

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Israel Navy with Tanin Submarine. Photo: IDF

Israel Navy with Tanin Submarine. Photo: IDF.

The State of Israel is looking for a buyer for Israeli Military Industries (IMI), and has asked investment banks around the world to help locate candidates. In addition, the government is preparing to brief private investors in two months, and request bids.

In the past, the company had been valued between 2.5 and 3 billion shekels ($802.8 million). The company is being sold as is, in one piece.

IMI chairman Udi Adam said, “Privatization of the company is progressing as planned, and is at the point of no return. Our main goal is to carry out privatization at a high monetary value for Israel, while reflecting the company’s technological capabilities, knowledge foci, and the quality of its human resources.”

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