Mentergy(TM), Ltd. the global provider of training and Learning solutions, announced the closing of the sale of two wholly owned subsidiaries, Gilat Satcom Ltd., and Israsat International Communications Ltd., which comprise its satellite-based communications services business (together, "Gilat Satcom").
The shares of Gilat Satcom were purchased by Lito Ofsset "Ziv" Ltd., an Israeli company ("Ziv"), whose shares are traded on the Tel Aviv Stock Exchange, in exchange for the issuance to Mentergy of new shares of Ziv, such that Mentergy holds 70% of the outstanding ordinary shares of Ziv on a fully diluted basis. Ziv is expected to change its name to "Gilat Satcom Systems Ltd."
"This transaction furthers our focus on becoming a world-wide company that specializes and focuses in advanced corporate training and learning services", says Ziv Mandl, Co-CEO of Mentergy. "We believe that as a public traded company Gilat Satcom will strengthen its position as a leading provider of communication services in Israel and abroad and be able to examine future strategic opportunities."
|
|
|