Ampal Announces Purchase of Bank Hapoalim's Holdings in Ampal.NEW YORK--(BUSINESS WIRE)--July 6, 1999-- Ampal-American Israel Corporation (AMEX AMEX See: American Stock Exchange :AIS) announced today that Ampal and its subsidiaries completed a transaction which was first announced on May 11, 1999, with Bank Hapoalim Bank Hapoalim (Hebrew: בנק הפועלים lit. Bank of the Workers) is the largest Israeli bank. B.M. ("BHP BHP blood hydrostatic pressure; the pressure exerted by the blood cells and plasma in the capillaries. ") and its two wholly-owned subsidiaries, wherein where·in adv. In what way; how: Wherein have we sinned? conj. 1. In which location; where: the country wherein those people live. 2. Ampal and its subsidiaries acquired from BHP and its subsidiary all of their holdings in Ampal for $31.3 million, Ampal and its subsidiaries sold to BHP's subsidiary seven real estate properties for $14.7 million and Ampal's subsidiary renewed the lease agreement with BHP with respect to a branch in Bnei Brak For the Biblical city, see . Bnei Brak (or Bene Beraq) (Hebrew: בְּנֵי בְּרַק, , Israel. Ampal will record a net gain of $6 million on the sale of the aforementioned real estate properties in the second quarter of 1999. 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 the growth in Israel's high technology sector, which has become of world-class stature. 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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