TEL AVIV, Israel, May 14 /PRNewswire-FirstCall/ -- Koor Industries Ltd. ("Koor", "Company"), a leading Israeli holding company, announced today that it is currently considering a possibility of purchasing an additional 5 - 10 percent of the outstanding share capital of Makhteshim Agan Industries Ltd. by means of a tender offer (the "Offer"). Koor currently holds approx. 39.2% in Makhteshim Agan.
The timetable, volume and terms of the possible Offer had not yet been determined, and there is no certainty that such an Offer will take place.
About Koor Industries
Koor Industries is a leading Israeli holding company, focusing on high-growth, internationally-oriented, Israeli companies. Koor actively invests in agrochemicals through Makhteshim Agan Industries; in telecommunications through its holdings in ECI Telecom, ECTel and Telrad Networks; and in venture capital through Koor Corporate Venture Capital. Koor's ADSs (American Depositary Shares) are traded on the New York Stock Exchange and Koor's Ordinary Shares are traded on the Tel Aviv Stock Exchange .
Company contact:
Oren Hillinger
Finance Director
Koor Industries Ltd.
Tel: +972-3-607-5111
Fax: +972-3-607-5110
Forward looking statements in this release involve a number of risks and uncertainties including, but not limited to, international market conditions, domestic political factors, technological developments, ability to finance operations, and other factors which are detailed in the Company's SEC filings.
© 2007 PR Newswire
