Pointer Telocation To Acquire Stake In Shagrir Systems
News: Israel-based Pointer Telocation has entered into an agreement with certain shareholders of Shagrir Systems with an aim to purchase 41.8% stake in Shagrir. The acquisition will enable Pointer to own 96.3% interest in Shagrir. Remaining 3.7% stake will be held by current and former managers of Shagrir. A definitive agreement is due to be signed by December 31 and the transaction is expected to be completed by March 31 2014.