JERUSALEM, Aug 7 (Reuters) - Mexican chemical firm Mexichem has agreed to buy an 80 percent stake in Israeli irrigation firm Netafim in a deal valuing the company at $1.895 billion, Netafim said on Monday.
Mexichem will pay some $1.5 billion, buying a 61 percent stake owned by private equity firm Permira, 6 percent from Kibbutz Magal and 13 percent from Kibbutz Hatzerim, which will remain a minority shareholder. The deal is expected to close in the fourth quarter of 2017, subject to various approvals.
Netafim has 17 manufacturing plants worldwide and had sales in 2016 of about $855 million.
Reporting by Ari Rabinovitch; Editing by Steven Scheer