Berkshire Hathaway said Wednesday that it had completed the acquisition of 80 percent of Iscar Metalworking Companies.
Berkshire announced in May that it would pay $4 billion for the stake in the privately held Israeli company, which makes metal cutting tools. The company’s current owners, the Wertheimer family, will retain 20 percent ownership, and the company will keep its current management and headquarters in Tefen, Israel.
Iscar is the first business based outside the United States that Berkshire has bought into, although it owns several companies with overseas operations.
Berkshire, the Omaha investment firm run by billionaire Warren Buffett, owns a diverse mix of more than 60 companies, including insurance, furniture, carpet, jewelry, restaurants and utility firms. It also has major investments in such companies as H&R Block Inc., Anheuser-Busch Cos. and Coca-Cola Co.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
AIG Steps Back from NPW Growth Target on Pressure in Some Lines 
When the Meter Says Wet but the Ceiling Is Dry: A Guide for Adjusters and Inspectors 
New Florida Property-Tax Cut May Bring an Unwanted Side Effect 
Private Jet’s Pilot Reported Turbulence Before Florida Crash 
