The acquisition of Israeli unmanned aerial vehicle (UAV) manufacturer Aeronautics by Rafael Advanced Defense Systems and businessman Avihai Stolero moved closer to completion on 13 August after approval from the government’s socio-economic cabinet.
Aeronautics shareholders and the Government Companies Authority had already approved the Rafael/Stolero offer.
Under the NIS850 million (USD243.64 million) deal, state-owned Rafael and Stolero will each hold a 50% stake in Aeronautics. Their successful bid almost doubled a previous offer of ILS430 million, which was rejected as too low by Aeronautics in 2018.
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