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Friday, November 24, 2017

Gadot News

AMPL: Offer to Acquire Gadot

Ampal-American Israel Corporation (AMPL) announced that Merhav-Ampal Energy Ltd. (MAE), a wholly owned subsidiary of Ampal, has commenced offers in Israel to purchase all outstanding shares of common stock and all outstanding convertible debentures of Gadot Chemical Tankers And Terminals Ltd. The consummation of the offer to purchase the Shares is conditioned upon, among other things, the tender of at least 15.72% of the outstanding Shares of Gadot and the tender of a sufficient number of convertible debentures such that Gadot will not be reporting issuer due to the convertible debentures. If the offers to purchase the Shares and convertible debentures are consummated…

AMPL: Offer to Acquire Gadot

Ampal-American Israel Corporation (AMPL) announced that Merhav-Ampal Energy Ltd. (MAE), a wholly owned subsidiary of Ampal, has commenced offers in to purchase all outstanding shares of common stock and all outstanding convertible debentures of Gadot Chemical Tankers And Terminals Ltd. The consummation of the offer to purchase the Shares is conditioned upon, among other things, the tender of at least 15.72% of the outstanding Shares of Gadot and the tender of a sufficient number of convertible debentures such that Gadot will not be reporting issuer due to the convertible debentures. If the offers to purchase the Shares and convertible debentures are consummated…

Gadot Chemicals Tankers Considers Floating GCT

Gadot Chemicals Tankers and Terminals Ltd. is considering floating its subsidiary, Gadot Chemical Terminals (1985) Ltd. (GCT). According to reports, GCT currently has a company value of NIS 250 million, and that an IPO would be held during the first half of the year. Gadot Chemicals Tankers and Terminals comprises of two main businesses: GCT and its shipping business, as well as a number of other subsidiaries in a range of fields. Last November, Gadot acquired full control of Dutch company Bax Chemicals BV for NIS 31 million. Source: Globes Online

Gadot Chemical Tankers Wins US$80-million International Arbitration

The sale of Gadot Chemical Terminals and Tankers Ltd. by Israel Discount Bank (TASE: DSCT ) will be able to move forward, after the London Maritime Arbitration Association ruled in the company's favor in the hearing against a Chinese shipyard from which it ordered four ships in 2007, reports Globes [online], Israel business news. The arbitration tribunal awarded Gadot $80 million, which it will receive in a few weeks, and which will reduce its debt and boost its value. Source: Globes [online], Israel business news  

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