Indian firm acquired 50% stake in Na'an Dan Irrigation

The purchase price was made at a company valuation of NIS 140 million. Na'an Dan received an offer from the Netafim irrigation group but preferred the Indian offer
 
Jain Irrigation Systems, an Indian agriculture conglomerate, announced last week its decision to acquire 50% of Na'an Dan Irrigation, one of Israel 's largest irrigation companies.
 
The announcement added that the purchase price was made at a company valuation of NIS 140 million.
 
Sources in the agriculture sector in Israel say that Na'an Dan received an offer from the Netafim irrigation group but preferred the Indian offer, even though Netafim's offer was much more attractive in many respects.
 
It is understood that Netafim undertook to maintain the operation of the two production centers on Kibbutz Na'an and Kibbutz Dan, and to continue to employ the workers.