Tnuva Farmers Protest Chinese Buyout

YERUSHALAYIM -

Farmers were planning demonstrations on Monday morning to protest the sale of Tnuva Food Industries to the Chinese company Bright Food Group, Globes reports.

The demonstration was called for one day ahead of an emergency meeting of the Knesset Economic Affairs Committee on the issue of sales of Israeli companies to foreign entities. The Tnuva deal is said to be high on the agenda for discussion.

The demonstration is being organized by the Moshav Movement, headed by secretary general Meir Tzur, who also serves as chairman of the Israel Farmers Federation.

Tnuva is controlled by Apax (56.1%) and Mivtach Shamir Holdings (20.7%). The rest of its shares are held by kibbutzim and moshavim (23.2%). Apax and Mivtach Shamir acquired control of Tnuva in early 2008.