Brosh expects that the year 2007 would see the trend of foreign investors acquiring local companies only increase
Manufacturers Association President Shraga Brosh said last week that police investigations at the Israel Tax Authority and in the Government will not have any diminishing effect on Israel's attractiveness to foreign investors.
Brosh expects that the year 2007 would see the trend of foreign investors acquiring local companies only increase.
Brosh noted that dozens of companies in the fields of high-tech, steel and electricity, foodstuffs, chemicals, pharamaceuticals, plastics, textiles, granite, furniture, footwear and construction are seeking investors and partners abroad.
Data collected by the Manufacturers Association show that the number of such acquisitions quintupled last year from 2005 to 83 local companies in 2006, totalling US$18.5 billion.
Israeli companies, in turn, acquired 36 foreign firms last year at a cost of $3.2 billion, representing a 29% rise in number of deals despite a 57% drop in monetary terms.
