Chinese investment fund paid about 6 million shekels to Kibbutz Hanita in exchange for shares

The Chinese investment fund Ballet Vision paid about 6 million shekels to Kibbutz Hanita as part of a settlement agreement, receiving in return the kibbutz's remaining shares in Hanita Lenses. The fund is now the sole owner of the factory.

The Chinese investment fund Ballet Vision paid nearly 6 million shekels to Kibbutz Hanita as part of a settlement agreement, receiving in return the remaining shares held by the kibbutz in Hanita Lenses. The Chinese fund is now the sole owner of the factory established by the kibbutz. The legal dispute concerned control of the company, which manufactures intraocular lenses for medical purposes and is located near the northern border. The kibbutz filed a lawsuit earlier this year against the fund, which held 80% of the company, and sought to purchase its remaining shares (20%) for $11 million. The lawsuit revealed the Chinese government's policy of banning investments in Israel since the war. In 2021, the Chinese fund acquired about 74% of the company for $35 million, of which $25 million was paid to the kibbutz. Subsequently, additional shares were allocated to the fund, diluting the kibbutz's holdings. The kibbutz explained that it needs the money due to the 'Swords of Iron' war, after experiencing two very difficult years near the border.