Clal Industries Selling Controlling Stake in Hadera Paper to FIMI Funds

Deal values company, which has been saddled with debt due to falling paper prices, at 600 million shekels.

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Clal Industries has sold its entire 59.1% stake in Hadera Paper to FIMI Opportunity Funds, the country’s largest private equity fund, for 355 million shekels ($94.5 million), the companies said on Wednesday.