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Rafael Completes Aeronautics Acquisition

In a Monday filing to the Tel Aviv Stock Exchange, Aeronautics, which listed in June 2017, announced it will be delisting on Tuesday

Adi Pick 12:4003.09.19
Israeli defense contractor Rafael Advanced Defense Systems Ltd. and Israeli businessman Avihai Stolero have completed the acquisition of drone maker Aeronautics Ltd., Aeronautics announced Monday in a filing to the Tel Aviv Stock Exchange. In its filing, Aeronautics, which listed in June 2017, announced it will be delisting on Tuesday.

 

The NIS 850 million (approximately $243.5 million) deal was approved by the Israeli government last month.
An Aeronautics drone. Photo: PR An Aeronautics drone. Photo: PR

 

 

Founded in 1997 and based in central Israeli town Yavne, Aeronautics develops military drones and has more than 45 defense, military, and homeland security customers worldwide.

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