An Israeli chemical manufacturer has finalized the sale of its 50% stake in global water desalination pioneer IDE Technologies Ltd., also based in Israel, to a domestic investor group for $177.5 million. It includes firm CEO Avshalom Felber and an Israeli teachers' pension fund and is set to close later this year.
The sale price was about half of a reported offer last year by China Communication and Construction Co. Israeli financial industry sources said the deal fell through.