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Israeli Private Equity Firm To Acquire Majority Stake In IAI Satellite Business

Cal Biesecker By
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Israeli Private Equity Firm To Acquire Majority Stake In IAI Satellite Business
ImageSat International provides a range of earth observation services. Photo. ISI

Israel Aircraft Industries (IAI) on Monday said that it has agreed to have the private equity firm FIMI invest $40 million in its satellite imagery services business, ImageSat International (ISI), in exchange for 54 percent stake in the business.Terms of the deal include ISI buying the new EROS C observation satellite from IAI, and for ISI to pay IAI $35 million on the transaction closing date to cover part of the outstanding shareholders' loan.FIMI is the largest private equity fund…

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