(Reuters) Warren Buffett's Berkshire Hathaway Inc. on Wednesday said it paid $2.05 billion cash to buy the 20% it did not already own of toolmaker Iscar from the Israeli company's founding Wertheimer family. Berkshire in 2006 bought an 80% stake in Iscar for $4 billion. "As you can surmise from the price we're paying for the remaining interest, [Iscar] has enjoyed very significant growth over the last seven years," Buffett said. German-born Stef Wertheimer founded Iscar in 1952. He has established a number of industrial parks in Israel aimed at promoting peace by having Jews and Arabs work together.
2013-05-06 00:00:00Full ArticleBACK Visit the Daily Alert Archive