Israel Petrochemical Says in Talks for Sale of Avgol Stake

Israel Petrochemical Enterprises Ltd. (PTCH), a manufacturer of raw materials for the plastics industry, said it is in talks with a foreign investment fund to sell most of its stake in Avgol Industries 1953 Ltd., according to a filing today with the Tel-Aviv Stock Exchange. Israel Petrochemical has a 24 percent stake in Avgol, a manufacturer of non-woven fabrics, according to data compiled by Bloomberg.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.