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THE ECONOMY
Israel's Delek Group is in the midst of negotiations to acquire the British real estate company Great Portland Estates, which trades on the London Stock Exchange at a market capitalization of $715 million, the British press reported. Delek Group's subsidiary, Delek-Belron International, invests in properties in the UK and Canada. The company owns 13 properties in UK, as well as four properties in Canada. It was also reported that Liberty International, a gigantic British property company trading on the LSE at $2.9 billion, is a contender for Great Portland as well.
Israel's Electra Real Estate company won two tenders to carry out projects in London totalling NIS 163 million. RTT, Electra's subsidiary, will install central air conditioning in a hospital in central London as well as in the Riverbank Hotel. According to Electra, the projects will raise RTT's income next year to NIS 315 million, and Electra's income abroad will constitute 35% of the general turnover for 2003. The American company Sanmina-SCI Corporation, a leading supplier of integrated design and electronics manufacturing services has acquired Elscint's manufacturing, assembly, engineering and integration operations in Ma'alot for $34 million. The plant, the last of Elscint's factories in the medical field, was acquired three years ago by businessman Motti Zisser. The company's customers include GE Medical Systems and Philips Medical Systems. The Elscint plant is the third that the American company is acquiring in Israel. In the two last years Sammina-Sci has acquired a factory from ACA and one from Telrad.
European food giants Danone and Nestle are conduction negotiations with Israel's Mei Eden over a strategic partnership to supply mineral water. The two companies are exploring the possibility of a large investment in Mei Eiden's European activities, in order to become partners in the Israeli company or even to gain a controlling interest in Mei Eden itself -- and not only in its European activities. Mei Eden has acquired 18 companies in European countries such as France, Spain, Sweden, and Norway, and has become the leading company in Europe, with 300 thousand subscribers -- compared to an international company like Nestle that has 220 thousand subscribers.
In another deal, US army acquires $3 million worth of state-of-the-art electric batteries from another Israeli company The US army has acquired from the Israeli start-up Clear Forest, the Clear Research software that it developed for rapid analysis of data from many sources. The US army acquired this software for an experiment designed to examine ways of sharing information with the armies of Australia, Canada, Germany and the UK. The experiment, which will use the Israeli software, will take place in less than two months,. In another deal, the US army has acquired from Israeli company Electric Fuel, electric batteries worth $ 3 million. These are small batteries that provide electric energy that is more than six times greater than batteries used today in tactile communications instruments and electronic field equipment.
TEVA CONCLUDES ACQUISITION OF INDIAN PHARMACEUTICALS COMPANY - FIRST ACQUISITION IN EASTERN ASIA According to media reports in India, the Israeli company Teva has concluded its first acquisition in eastern Asia - the Indian pharmaceuticals company JK Drugs. It is believed that Teva is closing the deal in Asia in order to enjoy the cheap labor there. Analysts estimate that the deal may total $ 15 million.
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