Israel Readies Sale of Stakes in State Defense Firms by Year-End
The Israel Aerospace Industries booth on the exhibit floor of the Association of the US Army Defense Show in Washington on Oct. 13.
Photographer: Samuel Corum/BloombergIsrael is preparing to sell a stake of as much as 30% in its two largest defense companies this year to help fund the nation’s expanding military spending.
Israel Aerospace Industries Ltd. will trade on the Tel Aviv Stock Exchange with an estimated valuation of about 100 billion shekels ($34 billion), an Israeli official familiar with the matter said, asking not to be identified because the matter is private. The sale of the Rafael Advanced Defense Systems Ltd. stake will likely be a private placement through TASE UP, with an estimated value for the company of 60 billion shekels, according to an official for the firm who also requested anonymity.