Deere & Company has closed the sale of its irrigation operations to Israeli private equity firm FIMI Opportunity Funds. No financial terms were disclosed. Headquartered in Moline, Illinois, Deere & Company is a maker of agricultural machinery.
MOLINE, Ill., May 30, 2014 /PRNewswire/ — Deere & Company (NYSE: DE) announced today it has substantially completed the sale of its irrigation operations pending certain regulatory approvals. In February, Deere reported it had reached a definitive agreement to sell the John Deere Water operations to FIMI Opportunity Funds, the leading private equity firm in Israel. Terms of the transaction were not made public.