Elbit Systems completed the purchase of the so-far state-owned Israel Military Industries (IMI) on 25 November in a deal potentially worth upwards of NIS 1.8 billion ($495 million), officials said. As reported by The Times of Israel, the sale, first announced in March 2018, went through this week after the Finance Ministry finished the process of allowing the once government-controlled company to privatize. The privatization of IMI was first approved by the cabinet in 2013. Elbit won the government’s tender process for the purchase.
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| Elbit's satellite communications vehicle (Picture source: Elbit Systems) |