Ministerial committee: Agrexco to be privatized

The company has gained fame in the production and export of field crops, vegetables, fruits and poultry. It is valued in the half billion Shekel range
 
A ministerial committee decided last week that Agrexco (Agrexco Agricultural Export Company Ltd.), the organisation which markets the exports of most of Israel's fresh fruit, vegetables and flowers, is to be privatized.
 
Over the years, the company has gained fame in the production and export of field crops, vegetables, fruits and poultry. The company handles the export of Israel's fresh agricultural produce and is the main export contractor for the Israel Vegetable Board, the Israel Fruit Board and the Israel Flower Board.
 
According to the framework proposed by Agriculture Minister Shalom Simhon, the first stage of the privatization process will include equalizing stock rights and conducting a valuation of the firm.
 
Agriculture Ministry sources estimated last week the value of Agrexco in the half billion shekel range. The Plants Board, owned by a number of farmers organizations, owns 97% of the shares of Agrexco, and has a 19% voting share. The rest of the voting rights are divided between the State, which holds 50% of the voting rights, Tnuva, and the Poultry Board.