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Williger brothers seek to float agri-foodtech VC fund

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Brothers Joseph (Yossi) and Zwi Williger are joining the growing trend of investment in agri-foodtech, and seek to take advantage of the bubbling IPO market in Tel Aviv to float activity in this field.

Sources inform “Globes” that food company G. Willi-Food Investments Ltd. (TASE:WLFD), controlled by the brothers, is at the initial stages of setting up a venture capital fund that will invest in agritech and foodtech companies, and of raising NIS 100 million for it in an IPO set for early next year.




As far as is known, Willi-Food is examining possible investment in two foodtech companies as a first step in its plans to build a varied portfolio of companies in this field under the fund currently being set up, companies whose business is synergetic with that Willi-Food’s food importing and marketing business.

Technological innovation in food and agriculture has developed substantially in Israel in recent years, and companies in this area have been floated on the Tel Aviv Stock Exchange. One such is Meat Tech 3D, in which Rami Levy and meat importer Adom are invested. Another is limited partnership Millennium Food-Tech. Both companies are in the business of advanced meat substitutes.

G. Willi-Food Investments imports, exports and markets more than 600 food products in Israel and overseas, through subsidiary G. Willi-Food International.

The Williger brothers hold 62% of the shares in G. Willi-Food Investments through BSD Crown, which is listed on the London Stock Exchange.

The Williger brothers took control of G. Willi-Food Investments three years ago, for the third time, having sold it twice in the past in deals that brought them hundreds of millions of shekels. In the past three years, the market cap of G. Willi-Food Investments has risen about 150% to NIS 530 million.

The share price of subsidiary G. Willi-Food International, which was listed on the Tel Aviv Stock Exchange in June this year after being listed on Nasdaq only, has since then risen 25%, giving the company a current market cap of around NIS 900 million.

Published by Globes, Israel business news – en.globes.co.il – on October 15, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020




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U.K. to Restart Brexit Trade Talks with European Union By Bloomberg

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© Bloomberg. Boris Johnson departs from a weekly meeting of cabinet ministers in London on Oct. 20. Photographer: Chris J. Ratcliffe/Bloomberg

(Bloomberg) — The U.K. agreed to resume trade talks with the European Union less than a week after Prime Minister Boris Johnson suspended them.

Intensive negotiations will begin on Thursday afternoon in London and happen every day, U.K. Chief Negotiator David Frost said in a Tweet on Wednesday.

The decision came after the EU’s chief negotiator, Michel Barnier, moved on Wednesday to address three British complaints, telling lawmakers in Brussels the EU would acknowledge the U.K.’s sovereignty, change its negotiating approach, and start work on the detailed text of an accord.

“We are ready to welcome the EU team to London to resume negotiations later this week,” a spokesperson for Johnson’s office said in a statement after the two sides’ chief negotiators spoke on Wednesday. “We have jointly agreed a set of principles for handling this intensified phase of talks.”

READ: Brexit Talks Set to Restart With Aim of Deal by Mid-November

The pound was on course for its largest daily gain since March at the end of the London session, while the yield on 10-year gilts rose five basis points to 0.24%.

Negotiations are expected to last for about another three weeks, officials said, but they cautioned there are still significant disagreements between the two sides.

“It is clear that significant gaps remain between our positions in the most difficult areas, but we are ready, with the EU, to see if it is possible to bridge them in intensive talks,” Downing Street said.

If the EU and the U.K. fail to reach a trade agreement, consumers and businesses will face the cost and disruption of tariffs and quotas in just 10 weeks’ time.

(Adds Frost comment starting in second paragraph.)

©2020 Bloomberg L.P.

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Fed’s Kaplan says U.S. economy will live with virus well into next year By Reuters

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© Reuters. FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan gestures during a news conference after of the True Economic Talks event in Mexico City

(Reuters) – Dallas Federal Reserve Bank President Robert Kaplan on Wednesday repeated his forecast for the U.S. economy to shrink about 2.5% this year and grow a strong 3.5% next year, adding that he expects the pandemic to continue to impact daily life well into next year.

“Let’s see what we can do to live with this virus,” Kaplan said in an online event with the Houston Hispanic Chamber of Congress, adding that wearing masks is a “far better alternative” to the mass lockdowns earlier this year.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

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Honda reaches $5 million defective air bag settlement with Arizona By Reuters

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© Reuters. FILE PHOTO: The Honda logo displayed at the 89th Geneva International Motor Show in Geneva

(Reuters) – Arizona reached a $5 million settlement with Honda Motor Co’s (T:) U.S. units Wednesday in a probe into defective Takata air bag systems, state Attorney General Mark Brnovich said.

The settlement follows an $85 million settlement announced in August with nearly all other U.S. states. Arizona said the Honda settlement includes $1.65 million in restitution for state consumers, a $2.13 million repair incentive program, $750,000 for consumer outreach and a $500,000 payment to Arizona.

Faulty air bag inflators have been tied to at least 15 U.S. deaths in Honda vehicles.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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