Skip to content
Subscriber Only

Uzi Developer for Sale as State Pays Down Debt: Israel Markets

Israel is putting the developer of the Uzi submachine gun up for sale, kick-starting a broader privatization program it forecasts will raise about 15 billion shekels ($3.75 billion) over the next three years.

Israel Military Industries Ltd., or IMI, said in January that it will start seeking investors within the next two months. Israel’s Government Companies Authority has said it expects the sale to be completed by 2016, with the arms manufacturer estimated to fetch more than $500 million.