Hadera, Israel - A US-based private equity fund is in the final stages of negotiation to buy a 80 percent stake in Israeli tyre maker, Alliance Tire, according to a news report on Globes Online, an Israeli news organisation linked to Alliance' owners.
Warburg Pincus, based in New York, is paying $384 million for the stake, said Globes. The report said the stake is being sold by Israeli entrepreneur, Eliezer Fishman, who is head of Fishman Holdings. Fishman Holdings also owns the Globes news organisation.
Today is a national holiday in Israel, so no one was available to respond to ERJ's questions at Alliance, and Warburg Pincus declined to confirm or deny that it is involved in any negotiations with regard to Alliance. A spokeswoman said the company does not comment on speculation about deals in which it may or may not be involved.
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Globes Online (Israel) story
Home page of Warburg Pincus
Home page of Alliance Tire