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Stock Market & Financial Investment News

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February 18, 2014
06:12 EDTTATTTAT Technologies executes agreement to sell controlling interest in Bental
TAT Technologies announced that it has entered into an agreement to sell its entire interest in Bental Industries, constituting 70% of Bental's issued and outstanding share capital, to Bental Investments Agshah, for an aggregate consideration of $5M. Following such transaction, Bental Investments shall hold 100% of Bental's outstanding share capital. Closing of the transaction is expected to take place within the next several weeks and is conditioned upon the approval of the transaction by the Israeli Antitrust Authority. TAT's board will consider alternatives for the use of funds received as consideration in such transaction, including use of the consideration for future strategic acquisitions by TAT in order to enhance TAT's competitive advantages.
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