Eltek Ltd. Closes Sale of Ordinary Shares to Nistec Ltd.
Carter Ledyard client Eltek Ltd. (NASDAQ: ELTK), the leading Israeli manufacturer of advanced circuitry solutions, including complex build ups of rigid and flex-rigid printed circuit boards, announced the closing of its sale of 3,532,655 ordinary shares for $4.2 million to Nistec Ltd., a leading provider of electronic manufacturing services and design services. Contemporaneously, Nistec also acquired all of the ordinary shares held by Eltek's principal shareholder, Mr. Yossi Maiman. As a result of both transactions, Nistec is now Eltek’s majority shareholder, holding 50.5% of its outstanding shares.
Eltek was represented by corporate department chair Steven J. Glusband and corporate associate Gideon Even-Or.
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