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Article: Bank Hapoalim offers stakes in Ampal, Hapoalim Invest.

Article from:
Jerusalem Post
Article date:
February 26, 1999
Author:
Copyright

DAN GERSTENFELD
Jerusalem Post
02-26-1999
Bank Hapoalim has approached the Steinmetz family in an attempt to sell its 25 percent stake in Ampal-American Israel Corporation, the bank said yesterday.

In a separate announcement, it announced that it intends to sell part of its 21% holding in Poalim Investments. The bank refused to provide more details on both deals.

Both offers are part of the bank's attempt to comply with the Bank Licensing Law's requirement to further reduce the commercial banks' holdings in non-banking companies by the end of the year to no more than 20% from the current 25% cap.

In May 1996, the Steinmetz family acquired a controlling stake in Ampal from Bank Hapoalim and ...

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