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.
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