Warren Buffett's Berkshire Hathaway agreed to pay $2.05bn to purchase the remaining piece of an Israeli metalworking company that it had acquired a stake in seven years ago.

Berkshire is buying the remaining 20% stake in IMC International Metalworking Cos., called Iscar, from the Wertheimer family, the founders of the company. They had sold the first 80% to Berkshire for $4bn in 2006, meaning the company doubled in value since the initial transaction.