Israeli investor Fimi cancels $75m bid for El Al Airlines stake

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el alIsraeli private equity firm Fimi Opportunity Funds has withdrawn its $75m bid for a stake in El Al Israel Airlines.

Fimi cancelled the agreement after its terms weren’t met, El Al revealed in a regulatory filing, according to Bloomberg.

The deal was subject to El Al’s negotiating a new collective bargaining agreement with its employees.

Fimi, which is headquartered in Tel Aviv, is focused on Israeli and US-based businesses. It has made 65 deals worth $1.5bn and 35 exits and currently has $600m available for new investments.

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