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Gadot Chemical Tankers and Terminals Ltd. ("Gadot") Completes Purchase of ADPO Chemical Terminal in Ghent, Belgium

^{Published on 2010-08-23 03:40:21 - Market Wire}
 

TEL AVIV, Israel--([ BUSINESS WIRE ])--Ampal-American Israel Corporation (Nasdaq:AMPL), a holding company with experience in acquiring interests in various businesses with emphasis in recent years on energy, communications and related fields, announced today that its subsidiary, Gadot, through its wholly-owned subsidiaries, has completed the previously announced purchase of the entire issued and outstanding share capital of ADPO GHENT NV ("ADPO") for a purchase price of a'30,000,000 (approximately $38.1 Million).

The transaction was completed on August 20, 2010. Gadot's subsidiary obtained a long term credit facility from Israel Discount Bank Ltd for the financing of the purchase price.

ADPO owns and operates a state of the art chemical storage terminal in Ghent, Belgium, over an area of 25 Hectares of land, with a storage capacity of approximately 100,000 Cubic Meters, and its purchase shall allow Gadot to expand its global business and maximize Gadot's abilities for delivering products and services worldwide.

About Ampal:

Ampal and its subsidiaries acquire interests primarily in businesses located in the State of Israel or that are Israel-related. Ampal is seeking opportunistic situations in a variety of industries, with a focus on energy, chemicals, communications and related sectors. Ampala™s goal is to develop or acquire majority interests in businesses that are profitable and generate significant free cash flow that Ampal can control. For more information about Ampal please visit our web site at [ www.ampal.com ].

Safe Harbor Statement

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