The price tag is NIS 3 million.
Holding and investment company Multimatrix Ltd. (TASE: MLTX) is negotiating to acquire the controlling interest in a privately held company that provides foreign currency conversion clearing services for households. The price tag is NIS 3 million. The company did not disclose the name of target company, except to say that the acquisition would be in the form of an owner's loan and that it expects the negotiations to take a month.
Multimatrix adds that the target company has a wholly-owned subsidiary that provides foreign currency credit conversion services.
In May, Multimatrix obtained an investment commitment of up to $6 million from US investment fund Yorkville Advisors LLC under a standby equity distribution agreement (SEDA).
Published by Globes [online], Israel business news - www.globes-online.com - on December 9, 2008
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