Ampal Announces the Sale of Moriah Hotels Ltd.NEW YORK--(BUSINESS WIRE)--April 14, 1999-- Ampal-American Israel Israel, in the Bible Israel (ĭz`rēəl, ĭz`rāəl) [as understood by Hebrews,=he strives with God], according to the book of Genesis, name given to Jacob as eponymous ancestor of the Hebrews, the chosen people of God. Corporation (AMEX AMEX See: American Stock Exchange :AIS) announced that its subsidiary, Ampal (Israel) Ltd., today completed the sale of its investment in Moriah Hotels Ltd. to Koor Tourism Enterprises and Sheraton International and received proceeds in the amount of $29.6 million. 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 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 and industry. |
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