Mivtach Shamir Holdings informed the Tel Aviv Stock Exchange, on Monday, that the Apax Partners fund has made a 710-million-shekel offer to take over its shares in Tnuva Food Industries. Mivtach Shamir had been asking NIS 775 million, according to Globes. A court hearing was held Sunday on Mivtach Shamir's petition to force Tnuva to open its books over Apax objections, following the Israel Security Authority's suspension of Mivtach Shamir trading in May 2010 over the Tnuva disclosure issue.
Lifting of the suspension depends on Mivtach Shamir selling its interest in the agricultural cooperative. Two months ago, a deal with Leumi Partners Ltd. collapsed.