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Africa Israel Acquires Stake in Negev Ceramics, Calcalist Says

Africa Israel Industries Ltd. agreed to buy today Menorah Mivtachim Holding Ltd.’s 6.5 percent stake in Negev Ceramics Ltd. (NGEV), the daily Calcalist said, without saying where it got the information.

Africa Israel’s offer valued Negev Ceramics at about 300 million shekel, higher than a November offer that valued the company at 241 million shekels, the newspaper said.

To contact the reporter on this story: Gwen Ackerman at gackerman@bloomberg.net

To contact the editor responsible for this story: Gwen Ackerman at gackerman@bloomberg.net

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