Fortissimo will sell its entire stake, 30.5%, while the kibbutz, which holds the remaining 69.5%, is set to sell 19.5%, leaving the kibbutz and LIC with an equal stake, the people said. LIC, however, will be given the option to increase its stake and acquire control of the company.
In May, Calcalist reported the negotiations were being held according to a company value of $110 million for Afimilk. However, following the report, a second entity expressed interest in the company, boosting its valuation to its current $140 million, the people said.
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