Rafael Eyes Controp Stake Sale
Categories: Corporate and M&A
Rafael Advanced Defense Systems, Israel’s state-owned defense contractor, is in advanced negotiations to sell half of its interest in Controp Precision Technologies to California-based AeroVironment, a leading drone manufacturer.
The process, managed by Rothschild, could value Controp close to USD 1 billion, though other suitors remain in consideration. Rafael, which acquired full control of Aeronautics in 2019, indirectly owns Controp through that subsidiary.
Founded in 1998 and headquartered in Hod Hasharon, Controp develops electro-optical and precision motion systems for drones, helicopters, light aircraft, patrol boats, and surveillance towers.
Read more in Ynet.
