Members of Kibbutz Hanita near Israel’s northern border are demanding $11 million from Ballet Vision, the Chinese fund that controls 80% of the Hanita Lenses plant, accusing it of refusing to exercise an option to purchase the kibbutz’s remaining shares, according to a lawsuit filed in Tel Aviv District Court.
In a response letter attached to the lawsuit, the Chinese fund said that since the outbreak of the war in Israel, Beijing has classified Israel as a “high-risk area” and imposed a ban on any new Chinese investments in the country, making it impossible to carry out the option.
According to the lawsuit, in 2021 the kibbutz sold 74% of Hanita Lenses, which manufactures intraocular lenses for medical use, to Ballet Vision for $35 million. Of that sum, $25 million was paid to kibbutz members, with an additional $10 million injected into the company.
When choosing between China and america. China has now become the lesser of two evils.
Based
Few years late, but ok.
Feels like the plot from MGS3 all over again.
While the US and Russia squabble, China is eating their lunch.
China does a lot, and I mean a LOT of things wrong. At least they, along with Japan, have been very good at keeping out Zionist/Israeli influence.
Tho, the latest epstein chat recordings make it a lot harder to believe that the Israeli and the US government are only different in name but led by the same deep state
More like Israel is the 51st state of the US but in Western Asia.
Head state
Central Israel Agency
finally. now do the old ones too.
few years late good news for israel!
accusing it of refusing to exercise an option
Was this written by an AI or by an illiterate? That’s not what the rest of the article says happened. The Chinese fund didn’t refuse to exercise the option, they refused to honour an option that they’d already signed. The opening sentence makes it look like Kibbutz Hanita are pulling a fast one, when it’s the exact opposite.
It’s an option, not a requirement.
That’s my whole point, it wasn’t Ballet Vision’s option to exercise, it was Kibbutz Hanita’s, but the opening summary erroneously describes it as the exact opposite. Here’s from later on in the article:
As part of the agreements, the Chinese fund granted the remaining minority shareholders an option to require it to purchase their remaining shares for about $9.5 million, now valued at roughly $11 million, by early December 2025.
https://www.investopedia.com/terms/p/putoption.asp
(edit: I had a little search just now to see whether it was true that China have made it illegal to invest in Israeli companies. Half the results were literally reporting on this story, and the other half of results were about Chinese companies actively aiding illegal Israeli settlements, which makes me suspect that BV’s claim that their hands are tied is bullshit.)
Before reading the article I was getting a glimmer of respect that China was having some kind of moral epiphany… but of course it’s only about money.
capitalists gonna capitalist.
capitalism with a very short leash can be useful; what matters is who holds the leash.
