Warren Buffett to Buy 80% of Israeli Company Iscar
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Warren Buffett, the legendary Omaha, Nebraska, investor, announced on Friday that he would purchase 80% of the Israeli company Iscar. The company’s current owners, the famous Wertheimer family, will receive some $4 billion for the deal.
The deal is the largest ever purchase of an Israeli company and makes the Wertheimer family the single wealthiest family in Israel.
Buffett: All 2,000 Iscar Employees Will Keep Jobs
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Warren Buffett, the legendary investor from Omaha, Nebraska, who purchased 80 percent of the Israeli company Iscar for some $4 billion, has decided not to make any changes in the corporation or its management, and vowed that none of the 2,000 Israelis working for Iscar in Israel would lose their jobs.
In an interview to Israel Radio on Saturday, Buffett said it was the first time since 1965, when he bought the first of his dozens of companies, that he could make that promise.
Buffett said that he agreed to the deal because Iscar is an “excellent” company with “wonderful” people.
Asked if Israel’s strong economic showing as of late influenced his decision, Buffett said, “I believe in Israel.”