Ampal Announces Purchase of 3.9% of Blue Square-Israel Ltd.NEW YORK--(BUSINESS WIRE)--June 23, 1999-- Ampal-American Israel Corporation (AMEX AMEX See: American Stock Exchange : AIS) announced today that its wholly-owned Israeli subsidiary, in a privately negotiated transaction, acquired a 3.9% interest in Blue Square-Israel Ltd. (NYSE NYSE See: New York Stock Exchange :BSI BSI - British Standards Institute ) for approximately $24 million. Blue Square-Israel Ltd. owns over 160 supermarkets and specialty stores in Israel. This transaction was arranged by Epsilon 1. (language) EPSILON - A macro language with high level features including strings and lists, developed by A.P. Ershov at Novosibirsk in 1967. EPSILON was used to implement ALGOL 68 on the M-220. Investment House Ltd. (a 20%-owned affiliate of Ampal). Ampal and its subsidiaries acquire interests in businesses located in the State of Israel or that are Israel-related. An important objective of Ampal is to make investments in companies which take advantage of growth in Israel's high technology and communications sector. Ampal and its subsidiaries have diversified interests in the following sectors: high technology and communications, real estate, leisure-time, finance, energy distribution and industry. |
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