P. M. BRIEFING : Canadians Make Offer for Koor
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JERUSALEM — The Belzbergs, a Canadian family known for takeover forays, became the latest bidder for Koor Industries today, offering to purchase Israel’s troubled industrial concern for $130 million.
Israel radio reported that the offer by financier Mark Belzberg requires the Finance Ministry to provide $50 million it promised Koor last year to reduce interest debt.
Koor is owned by the Histadrut, Israel’s largest trade union federation, and employs 11,000 workers, many of whom oppose a sale to foreigners.
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