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A tree expressing the zionist dream
1. Its roots are in agriculture
2. The defense forces guarantee its security
3. And high tech industries create the experts that will bring economic independence and promote peace
This dream is coming true
Let us realize it together
Stef Wertheimer (signature)
Billionaire U.S. investor Warren Buffett intends to buy the final 20% of Iscar from the Wertheimer family for about $2 billion, the sides announced on Wednesday. This will give Buffett's company Berkshire Hathaway complete ownership of the Israeli cutting-tool firm.
Berkshire Hathaway bought 80% of Iscar seven years ago in its first acquisition outside the United States. At the time it received an option to buy the remaining 20%.
Iscar is headquartered in the northern Israeli community of Tefen and is now formally known as International Metalworking, or IMC. The deal gives Iscar a total valuation of about $10 billion, about double its valuation when Berkshire Hathaway bought its initial 80% stake in 2006 for $4 billion.