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Globes | by:Aviv Levy | 9/11/15

Electrical appliance importer Electra Consumer Products (ECP) announced today that it signed on an agreement to sell its operations in the water bar sector (Electra Bar) to Mey Eden. The consideration in the transaction was set at approximately NSI 21 million plus VAT, not including the inventory, subject to the consideration reconciliation mechanism set forth with regards to the findings of the due diligence to be conducted by Mey Eden (which is owned by equity private fund Rhone Capital) of the acquired operations. ECP noted that the impact of the sale on its net profit is not expected to be material.