American Investor Buys Israeli Company Iscar For $4 Billion Warren Buffett: The Israeli Management Team Was Enormously Important In My Decision' Stef Wertheimer: Israel Is On The Right Path And Creating Jobs & Exports'
It is the biggest buy-out by a foreign investor in Israels history. None other than American tycoon Warren Buffett has paid $4 billion for an 80% share of Iscar, an Israeli company that produces blades and other equipment for industry. Buffett signed the deal in Omaha, Nebraska with Eitan Wertheimer, the son of Iscars founder Stef Wertheimer.
Warren Buffetts $4 billion purchase of Iscar proves Israel is a high-tech powerhouse – thats the reaction to the biggest buy-out in the countrys history.
Buffett, the richest investor in the world, has startled financial circles with his 80% buy-out of Iscar, a precision tools conglomerate operating out of Galilee. Not only that, but Buffett calls Israel a promising country for investors and hell visit this fall to check out other opportunities. Buffett says hes always been pro-Israel and although hes never visited, his wife has, many times. Why Iscar? The seventy-five year old tycoon said people were all important and he was enormously impressed by Iscars management.