Reports in Israel have revealed that the Flower Board of Israel and US investor Ahron Forem have submitted an eleventh-hour bid for troubled fresh produce exporter Agrexco.
Financial publication Globes said that the offer totalled NIS17m (€3.4m), above the bid submitted by Gideon Bickel of Bickel Flowers, which was set to be accepted by Tel Aviv District Court before the new bid.
The Bickel bid consists of an NIS16.1m (€3.2m) cash payment plus future payments derived from sales, for an overall offer of NIS40m (€7.9m).
However, Agrexco workers committee chairman Shaul Tzivoni, who had originally backed the Bickel bid, has now switched support to the new bid from the Flower Board of Israel and Ahron Forem, Globes noted.
No comments yet