Aharon Lipman, Rami Lipman and Zeev Kopf are receiving some NIS 140 million in total over four years, for their controlling shares in Lipman Electronic Engineering (TASE: LPMA) .

Lipman today advised the Tel Aviv Stock Exchange of the sale to First Israel Mezzanine Investors.

Aharon and Rami Lipman, and Kopf, together hold 20.4% of Lipman's share capital. The company said FIMI will be infusing money through convertible bonds.

FIMI's acquisition of shares plus the infusion is expected to total about NIS 150 million.

Lipman also announced that its controlling shareholder, Mivtach Shamir (TASE: MISH) , has reached an agreement with FIMI regarding control over the company.

Mivtach and FIMI will cooperate on votes for director appointments, and on cash dividend payments over the next five years, totaling no less than $4.5 million a year.

They also agreed that their commitment regarding dividends will be annulled after Lipman has paid $22.5 million.

Lipman, founded in 1974, makes solutions for the electronic payment industry. FIMI has some $250 million under management and specializes in mezzanine-stage venture financing, and in leveraged buyouts.

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