Protests over pay have been ongoing in Tel Aviv

Protests over pay have been ongoing in Tel Aviv

Total Produce has been linked to the possible acquisition of Agrexco as the industry waits to see who will gain ownership of the Israeli exporter.

The Irish-based wholesale business Total Produce and US equity fund Paine & Partners are among the bidders, according to a report by Globes.

The Globes report claims yen companies have purchased tender forms including a consortium headed by DS Apex Holdings and another led by Abraham Bigger.

Agrexco has struggled to manage its debt over the past year, posting a loss of €33 million in 2010 and running up total debts of €106m.

Following the departure of CEO David Bondi and the appointment of trustee Shlomo Nass last month, it emerged that the company was seeking a buyer.

The company obtained a stay of proceedings in the Tel Aviv High Court, the deadline for which expires on Tuesday 26 July, making today the final day on which bids to buy the firm can be received.

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