Berkshire buys rest of Iscar, cuts Moody’s stake

Warren Buffett’s Berkshire Hathaway said it paid US$2.05 billion (HK$15.91 billion) cash to buy the 20 per cent it did not already own of toolmaker Iscar from the Israeli company’s founding Wertheimer family.

Berkshire in 2006 bought an 80 per cent stake in Iscar, a maker of metal cutting tools whose formal name is IMC International Metalworking Cos, for US$4 billion (HK$31.0 billion).

via Business feed http://www.scmp.com/business/companies/article/1228175/berkshire-buys-rest-iscar-cuts-moodys-stake