(Alliance News) - Amiad Water Systems Ltd on Friday said it is set to receive a GBP17.6 million investments from Israeli private equity firm and significant shareholder FIMI Opportunity Funds.
FIMI would acquire 25% of Amiad's share capital at a price 200.30 pence each.
Shares in the company were 12% lower at 250.00p each in London on Friday afternoon.
FIMI Opportunity Funds along with AMSI. Investments (1997) Ltd and Keren HaChoshlim - Agricultural Cooperative Society for Business Ltd, two other "substantial shareholders" in Amiad, have backed the investment.
Should FIMI complete the GBP17.6 million investment, it will also purchase a further 1.1 million Amiad shares from Keren HaChoshlim, at the same price per share, or GBP2.6 million in total.
By Eric Cunha; ericcunha@alliancenews.com
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