The illegal business of Apax Partners
boycott Agrexco | 26.02.2009 11:07 | Anti-militarism | Palestine | World
A small protest was held last week outside Apax Partners' offices in central London (see 
http://www.indymedia.org.uk/en/2009/02/422708.html). Below is some background information on the UK-based private equity giant, which holds a majority stake in Israeli agricultural co-op Tnuva, which, in turn, owns 25 percent of Israeli exporter Agrexco Agricultural Export Company.
http://www.indymedia.org.uk/en/2009/02/422708.html). Below is some background information on the UK-based private equity giant, which holds a majority stake in Israeli agricultural co-op Tnuva, which, in turn, owns 25 percent of Israeli exporter Agrexco Agricultural Export Company.
Apax Partners is one of the world's largest private equity investment firms, established over 30 years ago. It operates across the US, Europe and Asia, with funds totalling $35 billion. Funds advised by Apax Partners (Apax Funds) typically invest in companies with a value of between €1bn and €5bn. According to their website, the Funds mainly invest in five sectors: tech & telecom, retail & consumer, media, healthcare and financial & business services (for more details, see http://www.apax.com/en/aboutus/index.html. See also their 2007 annual report at http://www.apax.com/en/news/story_1860.html).
In January last year, funds advised by Apax Partners acquired, together with the Mivtach Shamir group, a majority stake in Tnuva, at a value of $1.025 billion. The signing of the agreement took place at the Tnuva offices in Tel Aviv, in the presence of the managing director of Apax Partners Israel Ltd, Zehavit Cohen, the CEO of Mivtach Shamir, Meir Shamir, and the CEO of Tnuva, Arik Reichman. The ownership of Tnuva was thus split between the Apax-Mivtach Shamir consortium (76.7%) and a Holding Corporation (23.3%) whose members include Israeli collective farms (kibbutzim) and agricultural communities (moshavim) as well as the Kibbutz Economic Organizations (see http://www.apax.com/en/news/story_1804.html).
Tnuva, an Israeli cooperative made up of a large number of kibbutzim and moshavim, is Israel's largest dairy products manufacturer. It owns 25% of Agrexco Agricultural Export Company, which exports fruits, vegetables and flowers grown on illegal Israeli settlements in the West Bank. Tnuva also owns 42% of Field Produce, which is located in the Israeli settlement Na'ama in the occupied Jordan Valley.
As such, Apax Partners, like Tnuva and Agrexco, is profiting from the Israeli occupation of Palestine and its illegal settlements and is arguably complicit in the Israeli war crimes under the International Criminal Court Act 2001.
Apax Partners has been operating in Israel since 1994, with over $400 million invested in more than 40 Israeli companies. In October 2000, Apax Partners Israel joined forces with Apax Partners in Europe, as part of a vision of becoming "a truly global private equity firm." Apax Partners Funds' investments in Israel include Bezeq, Butterfly, Procognia, Bitband, Printar, Ceragon Networks, Commtouch, Compugen, EZchip, Fundtech, Mobixell, Modem-Art, Starhome, Digital Fuel, Power Paper and Wisair.
Apax Partners has offices across the world, including one in Tel Aviv. Its headquarters is, of course, in London: 33 Jermyn Street, SW1Y 6DN (see http://www.apax.com/en/offices/london.html).
http://www.apax.com/en/aboutus/index.html. See also their 2007 annual report at http://www.apax.com/en/news/story_1860.html). In January last year, funds advised by Apax Partners acquired, together with the Mivtach Shamir group, a majority stake in Tnuva, at a value of $1.025 billion. The signing of the agreement took place at the Tnuva offices in Tel Aviv, in the presence of the managing director of Apax Partners Israel Ltd, Zehavit Cohen, the CEO of Mivtach Shamir, Meir Shamir, and the CEO of Tnuva, Arik Reichman. The ownership of Tnuva was thus split between the Apax-Mivtach Shamir consortium (76.7%) and a Holding Corporation (23.3%) whose members include Israeli collective farms (kibbutzim) and agricultural communities (moshavim) as well as the Kibbutz Economic Organizations (see
http://www.apax.com/en/news/story_1804.html). Tnuva, an Israeli cooperative made up of a large number of kibbutzim and moshavim, is Israel's largest dairy products manufacturer. It owns 25% of Agrexco Agricultural Export Company, which exports fruits, vegetables and flowers grown on illegal Israeli settlements in the West Bank. Tnuva also owns 42% of Field Produce, which is located in the Israeli settlement Na'ama in the occupied Jordan Valley.
As such, Apax Partners, like Tnuva and Agrexco, is profiting from the Israeli occupation of Palestine and its illegal settlements and is arguably complicit in the Israeli war crimes under the International Criminal Court Act 2001.
Apax Partners has been operating in Israel since 1994, with over $400 million invested in more than 40 Israeli companies. In October 2000, Apax Partners Israel joined forces with Apax Partners in Europe, as part of a vision of becoming "a truly global private equity firm." Apax Partners Funds' investments in Israel include Bezeq, Butterfly, Procognia, Bitband, Printar, Ceragon Networks, Commtouch, Compugen, EZchip, Fundtech, Mobixell, Modem-Art, Starhome, Digital Fuel, Power Paper and Wisair.
Apax Partners has offices across the world, including one in Tel Aviv. Its headquarters is, of course, in London: 33 Jermyn Street, SW1Y 6DN (see
http://www.apax.com/en/offices/london.html).
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