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Israel Petrochemical Says in Talks for Sale of Avgol Stake

July 24 (Bloomberg) -- Israel Petrochemical Enterprises Ltd., 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

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