October 19, 2017 / 7:12 AM / a year ago

FIMI fund in talks to invest in Israel Aerospace subsidiary

TEL AVIV, Oct 19 (Reuters) - State-owned Israel Aerospace Industries (IAI) said on Thursday it is holding talks to bring in the FIMI private equity fund as an investor in one of its subsidiaries.

A spokeswoman for IAI declined to name the subsidiary but the Calcalist financial newspaper said it was ImageSat, a commercial provider of satellite imagery services.

According to Calcalist, Israel’s FIMI fund is in talks to invest 150 million shekels ($43 million) in exchange for a 55 percent stake in ImageSat.

“If an agreement is signed, the company will report on the details of the transaction and its effect on (financial) results,” IAI said in a statement to the Tel Aviv Stock Exchange. ($1 = 3.5004 shekels) (Reporting by Tova Cohen, Editing by Ari Rabinovitch)

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