Nestle buys Israeli foodmaker Osem

Nestle has agreed to buy out shareholders of Osem for about $840m (€750m) and take the Israeli foodmaker private, the two companies announced yesterday.

Swiss food giant Nestle already owns 63.7% of Osem, Israel’s largest listed food maker.

It has offered 3.3bn shekels (€753m) or 82.5 shekels per share for the remainder, the companies said in a filing to the Tel Aviv Stock Exchange.