TEL AVIV, Israel (Oct. 25, 2006) – U.S. private equity concern Warburg-Pincus L.L.C. is negotiating to buy the majority-share ownership of Israel's Alliance Tire Co. Ltd. from its current owner, Fishman Holdings, according to a spokesman for Alliance.
Fishman Holdings is a Tel Aviv-based venture with holdings in the real estate, venture capital, retail, media and industry.
New York-based Warburg-Pincus claims investments of more than $20 billion, with holdings in industry, energy, real estate, media, financial services and health care, according to a profile on its Web site.
Hadera, Israel-based Alliance Tire reported $151.4 million in sales last year, making it the world's 50th largest tire maker. It specializes in farm, foresty and other off-the-road tires and is represented in North America by Alliance Tire USA in Danville, N.J.
News reports from Israel value the proposed deal at $48 million.
Fishman holds a reported 60-percent share of Alliance Tire. The remainder of the firm's shares are traded on the Tel Aviv exchange.