U.S. Group Makes Sole Bid for Israel...
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U.S. Group Makes Sole Bid for Israel Chemicals: Israel received only one bid for a controlling stake in Israel Chemicals Ltd., which is being sold under a privatization program, a Finance Ministry official said. The bidding consortium is composed of U.S.-based Israeli businessman Arye Genger, who owns a majority stake in Israel’s Haifa Chemicals; Chicago’s Pritzker family and Great Lakes Chemical Corp., an ICL competitor in bromine. Terms were not disclosed. The stake’s value has been estimated at $350 million. ICL produces fertilizers, phosphates and bromine. It reported a net profit of $100.6 million in 1989 on sales of nearly $1.2 billion.
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