January 28, 2019 / 1:21 PM / 6 months ago

Israel's Arison sells Miya water firm to Bridgepoint for $260 million

TEL AVIV (Reuters) - Private equity group Bridgepoint has agreed to buy water technology firm Miya from Arison Investments, the investment arm of U.S.-Israeli billionaire Shari Arison, for $260 million, Arison said on Monday.

Miya was founded by Arison in 2008 to provide water technology solutions, focusing on increasing efficiency in urban water systems.

It owns Portuguese-based Indaqua, which serves seven water companies in northwest Portugal, covering thousands of square kilometers and serving 600,000 people.

Arison has been gradually selling off assets in Israel. Last year she sold control of construction group Shikun & Binui to businessman Naty Saidoff for 1.1 billion shekels ($299 million).

Arison is also in the process of unwinding her controlling shareholding in Hapoalim, Israel’s largest bank, selling a 4.26 percent stake in November to institutional investors for 1.425 billion shekels.

Arison said in a statement she would continue to invest in projects that bring added value to people and the environment.

($1 = 3.6787 shekels)

Reporting by Tova Cohen; Editing by Steven Scheer

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