Israel’s plan to privatize the Israel Military Industries, the nation’s storied defense contractor, has garnered 12 applications from hopeful buyers, Reuters reported Thursday.
IMI developed such iconic Israeli weapons as the Uzi submachine gun and is credited with playing a pivotal role in the Jewish state’s attainment of military superiority in the volatile Middle East.
Aspiring buyers include overseas investors such as New York’s Renco Group and London’s Coleridge Capital, and competing Israeli defense contractors such as Mivtach Shamir and Elbit Systems.
The government said it hopes to sell the state-owned company for between $400 million and $650 million by the end of 2015, Reuters said.
The state has set a goal of raising some $4 billion through the sale of eight state-owned companies and the opening of two private ports in Haifa and Ashdod by 2017.
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