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Cacalist | by: Amitai Gazit | 17/6/15


Calcalist learned that the company signed an agreement to purchase control of Tavas for NIS 25.2 million

Electra FM, an Electra Group subsidiary that specializes in current maintenance of buildings and systems, signed an agreement with Tavas to acquire 60% of its operations based on a value of NIS 42 million. According to the terms of the deal, in consideration, Electra FM would pay NIS 25.2 million in Q3 2015 and an additional NIS 3.6 million. Electra would also receive an option to acquire the remaining shares of Tavas at the end of 2020.