Israeli fashion chain Fox-Weizel Ltd said on Monday it has been approached by private equity firm Apax Partners regarding an investment in the company.
“Preliminary talks took place, a confidentiality agreement was signed and Apax will begin an examination of the company,” Fox said in a statement to the Tel Aviv Stock Exchange.
Fox, which issued the statement in response to a report in the Globes financial newspaper, said that at this stage no price or terms have been set and the issue has not been discussed by the company’s board of directors.
Fox has a market value of 1.27 billion shekels ($365 million).
Shares in Fox were up 3.7 percent to a year high of 101.4 shekels in early afternoon trade. The shares have more than doubled since Jan. 1.