Permira to sell Netafim for $1.9 bln

Permira said Aug 7 that it agreed to sell Netafim Ltd to Mexichem SAB de CV for $1.895 billion. Mexichem is buying 80 percent of Netafim while Kibbutz Hatzerim, the founder, will retain the remaining 20 percent. Netafim, of Israel, provides smart drip and micro-irrigation solutions for sustainable agriculture and other applications. Goldman Sachs, Centerview Partners LLC and Bank of America Merrill Lynch provided financial advice to Permira and Netafim. Skadden, Arps, Slate, Meagher & Flom LLP and EBN&Co acted as legal advisers.

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