Vevey / CH. (nsa) Swiss Nestle S.A. and Osem, its subsidiary in Israel, have announced their joint intention to delist Osem from the Tel Aviv Stock Exchange. Nestle has a long history of investment in Osem, dating back to 1995, and looks forward to continue to partner with the Osem management to develop the company. Nestle has reached an agreement with Osem’s Special Committee of the Board – comprised of its independent directors – to recommend a price of 82.50 ILS per share for Nestle to acquire the 36.3 percent of the capital it does not currently own. The transaction is subject to approval of Osem’s minority shareholders. Established in 1942, Osem produces and distributes a wide range of high-quality branded food products.
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