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A2Z Cust2Mate Solutions Corp. (NASDAQ:AZ), a Canadian industrial machinery company, announced today that it has entered into an agreement to sell its wholly-owned subsidiary, Isramat Ltd, to an Ontario-based purchaser affiliated with a company director.
The agreement, signed on Thursday, June 12, 2025, involves the sale of Isramat, which is organized under the laws of Israel, for a total consideration of 3,250,000 Israeli Shekels (ILS). Additionally, A2Z Cust2Mate will waive 6,310,690 ILS of debt owed by Isramat to the parent company.
The purchaser has ties to Ben-Tsur Joseph, who serves as a director on the board of A2Z Cust2Mate. The company’s non-interested directors approved the transaction, which was also supported by a fairness opinion from Neville Weitzman Consultants.
This strategic move is part of A2Z Cust2Mate’s broader business realignment, as it sheds a subsidiary to focus on its core operations. The sale’s specifics are detailed in the Share Purchase Agreement, which is filed as an exhibit to the company’s Form 6-K and incorporated by reference.
The financial impact of the divestiture on A2Z Cust2Mate’s balance sheet and future earnings will be observed by the market, as the company continues to navigate the competitive landscape of the industrial machinery sector.
This report is based on the company’s official statements filed with the Securities and Exchange Commission.
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