Israel’s Koor Industries has reduced the share of the Credit Suisse to 1.25%
May 31, 2009 – 8:36 pm Israeli holding company Koor Industries said that the reduced share of the Credit Suisse to 1.25% from 1.5%. This was the fifth sale of shares in the Israeli Investment Bank in April this year.
Koor reported that the latest deal the company will receive $44.7 million (177 million . shekels).
At this time, Koor owns 14.82 million shares in the Investment Company which has invested 1.7 billion shekels. The share is estimated at 2.63 billion shekels at current market prices.
Company owned 3.4% of the shares of Credit Suisse. Koor belonged to the third-largest stake in the bank.
Koor to invest further in Credit Suisse, taking advantage of the buying and selling shares, and intends to remain a significant shareholder in the bank, said in a message us.
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