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Ampal Surges Most on Record on Bondholder-Agreement Report

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April 3 (Bloomberg) -- Ampal-American Israel Corp., holder of a stake in a company that exports natural gas from Egypt to Israel, rallied the most on record after Globes newspaper reported it reached an agreement with bondholders.

The shares of Ampal, which owns 12.5 percent of East Mediterranean Gas Co., soared 34 percent, the most since at least August 2006, to 1.126 shekels at the 4:30 p.m. close in Tel Aviv. That gave the company a market value of 63.2 million shekels ($17 million).

Ampal reached an accord with investors who hold its largest outstanding series of bonds, Globes said , without saying where it got the information. A message left with a company spokesman wasn’t immediately returned.

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

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