Israeli firm Mehadrin is in an "advanced stages of negotiations" to purchase Tnuport's part in the partnership known as Mehadrin-Tnuport Export (MTE).
If the deal goes through, Mehadrin will become Israel's largest grower and exporter of citrus.
Mehadrin and Tnuport agreed that the purchase would take place about a month ago, it is being reported, but the negotiations were hastened this week in view of huge losses incurred by one of Israel's largest entrepreneurs Eliezer Fishman, who owns Tnuport.
According to Israeli press reports, Fishman lost NIS1.4 billion (US$311 million) on failed speculation in the Turkish Lira.
Mehadrin announced it intends to buy Tnuport's Pelach and Gan Pelach, a company engaged in cultivating and managing citrus groves. MTE already packs, markets and exports citrus, avocados and grape from its own plantations as well as fruit purchased from third parties. Gan Pelach is a limited partnership owned by Pelach and Gan Shmuel Foods.
