The members of Kibbutz Hatzor will enjoy a NIS 100 million (about $26.5 million) exit in a deal worth about NIS 500 million ($133 million).
Amazingly, just three years ago Solbar was on the brink of bankruptcy until former Strauss Elite CEO Shaul Shelach was brought in to reorganize the company.
CHS is a giant US agricultural cooperative with annual sales of $30 billion in the agricultural goods, energy and financial sectors.
The deal between the two companies was signed Wednesday night. A month ago, Calcalist revealed that FIMI and Mivtach Shamir were negotiating for the sale of Solbar.
The deal is valued at NIS 15 ($4) per share. The share's closing price on Wednesday was NIS 6.84 ($1.82).
The Americans plan to make a tender offer and delist the company from TASE, hence the company's shareholders will gain from Solbar's exit as well. The company is traded on a NIS 221 million ($59 million) market cap, reflecting a 117% premium on the company's value.
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