Fosun International Limited completed the acquisition of AHAVA Dead Sea Laboratories Ltd. from B. Gaon Holdings Ltd., Livnat family, Shamrock Israel Growth Fund Advisors Ltd., Kibbutz Mitzpe Shalem and Kibbutz Kalia.
AHAVA Dead Sea Laboratories Ltd. reported revenue of ILS 183 million in 2014. Fosun has been granted exclusivity in negotiating with the Ahava shareholders for a period of 90 days and completion of the deal is subject to completion of due diligence and additional approvals. On April 7, 2016, B. Gaon Holdings has reached agreement on the formulation of an agreement for the sale of its 15% stake in Ahava. The transaction is expected to complete in six months. Micky Barnea, Ariella Dreyfuss and Itay Gura of Barney & Co. acted as legal advisors to Kibbutz Mitzpe Shalem. Ran Hai, Erez Abu and Yair Geva of Herzog Fox & Neeman acted as the legal advisors to Fosun. Chaim Friedland, Yoav Meer and Nir Knoll of Gornitzky & Co. acted as the legal advisors to B. Gaon Holdings Ltd., Livnat family, Shamrock Israel Growth Fund Advisors Ltd., Kibbutz Mitzpe Shalem and Kibbutz Kalia.
Fosun International Limited (SEHK:656) completed the acquisition of AHAVA Dead Sea Laboratories Ltd. from B. Gaon Holdings Ltd. (TASE:GAON), Livnat family, Shamrock Israel Growth Fund Advisors Ltd., Kibbutz Mitzpe Shalem and Kibbutz Kalia on September 19, 2016. All the pre-conditions for the transaction completion have been fulfilled.