Deals
Tnuva Said to Meet Banks as Largest Israel IPO in 3 Years
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Tnuva Food Industries Ltd., controlled by private equity fund Apax Partners LLP, is considering an initial public offering that would value the company at 8 billion shekels ($2.2 billion), according to a person familiar with the plans.
The producer of dairy products that began as a cooperative of Israeli kibbutz farms, has met with investment banks, including Clal Finance Underwriters Ltd., and is seeking a listing on the Tel-Aviv Stock Exchange by the first quarter of 2014, according to the person, who asked not to be named because the discussions are private. Apax may also consider an outright sale of the company, according to the person.