Nestle Invests in Osem

February 1/Jerusalem/Dow Jones -- Israeli food maker Osem Investments Ltd. said Nestle SA has increased its stake in the company by 4.99%, to take its holding to 58.76%.

Nestle bought the additional stake for 371.7 million shekels ($98.5 million) from former Osem chief executive Gad Propper, Osem said. Propper sold the shares for ILS67.19 each.

Nestle has been a controlling shareholder in Osem, which produces packaged cakes, salads and other food products for the Israeli and global markets, since 1995.

From the February 1, 2012, Prepared Foods' Daily News.

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