Ampal Announces Proposed Sale of Bank Hapoalim's Entire Holdings in Ampal.NEW YORK--(BUSINESS WIRE)--Feb. 25, 1999--Ampal-American Israel Corporation (AMEX AMEX See: American Stock Exchange : AIS) today reported that upon the request of Bank Hapoalim Bank Hapoalim (Hebrew: בנק הפועלים lit. Bank of the Workers) is the largest Israeli bank. B.M. the holder of 25% of the Corporation's shares, the Corporation and the Bank commenced negotiations regarding a possible purchase of the Bank's entire holdings in the Corporation by the Ampal group. Ampal and its subsidiaries acquire interests in businesses located in the State of Israel or that are Israeli-related. An important objective of Ampal is to make investments in companies which take advantage of growth in Israel's high technology sector, which has become of world-class stature stature /sta·ture/ (stach´ur) the height or tallness of a person standing.stat´ural stat·ure n. The height of a person. stature the height of an animal in the standing position. . Ampal and its subsidiaries have diversified diversified (di·verˑ·s interests in the following sectors: high technology and communications, real estate, hotels and leisure-time, finance, energy distribution, industry, as well as others. |
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