New York-based Ampal-American Israel Corp is in negotiations over a possible investment in Salt Industries Ltd., a company registered in Israel.
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If the transaction proceeds, Ampal would invest around US$90m in Salt Industries in exchange for 33.33% of the company’s outstanding shares.
Under the proposed Memorandum of Understanding being negotiated, Ampal will also be granted an option to acquire up to a further 13.33% of Salt Industries’ outstanding shares from existing shareholders who currently own 90% of its outstanding shares. If the option were to be exercised in full, Ampal and the group of shareholders will hold equal equity interest in Salt Industries.
Salt Industries is primarily engaged in the production, processing, packaging and marketing of salt in Israel and its export abroad. It is also part of the controlling interest group of Bank Hapoalim.
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