Rafael Receives Final Approval for Aeronautics Acquisition
The Israeli drone maker will now delist from the Tel Aviv Stock Exchange
Aeronautics confirmed the matter in a Wednesday filing to the Tel Aviv Stock Exchange. Calcalist's Hebrew version first reported it Tuesday.
The NIS 850 million (approximately $243.5 million) deal was approved a few days before its deadline. Aeronautics’ controlling shareholders, Viola P.E.P.G., Beresheit General Partner Ltd., and KCPS Manof (2009) Ltd., are some of the big beneficiaries of the deal, as just a few months ago Aeronautics was trading at a market capitalization of NIS 400 million (approximately $114.6 million).
Aeronautics, which listed in June 2017, will now be delisting from TASE.