UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 

FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported):  June 14, 2010 (June 8, 2010)
 

Ampal-American Israel Corporation
(Exact name of registrant as specified in its charter)

New York
(State or other jurisdiction of
incorporation)
0-538
(Commission File Number)
13-0435685
(IRS Employer
Identification No.)
 
555 Madison Avenue
New York, NY, USA
(Address of principal executive offices)
 
10022
(Zip Code)
 
(866) 447-8636
(Registrant’s telephone number, including area code)
 
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 
 
 
Item 8.01 Other Events .

On June 14, 2008, Ampal-American Israel Corporation (the “Company”) announced that its wholly owned subsidiary Gadot Chemical Tankers and Terminals Ltd. (“Gadot”) entered into an agreement on June 8, 2008 to purchase a chemical storage terminal in Western Europe, with a storage capacity of approximately 100,000 cubic meters and occupying 25 hectares of land.  The purchase price is €30,000,000 (approximately $36.2 million) and the closing of the transaction is subject to customary closing conditions, including, among others, obtaining financing and the consent of several customers of the sellers.

A copy of the Company’s press release announcing the transaction is attached hereto as Exhibit 99.1 and is incorporated in this report by reference.

Item 9.01. Financial Statements and Exhibits .
 
(d) Exhibits:
 
EXHIBIT
 
DESCRIPTION
 
99.1
Press release of Ampal-American Israel Corporation, dated June 14, 2010.
 

 
2
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
AMPAL-AMERICAN ISRAEL CORPORATION
 
       
       
Date: June 14, 2010
By:
/s/ Yoram Firon                                                           
 
 
Name:
Yoram Firon
 
 
Title:
Vice President - Investments and
 
   
Corporate Affairs
 
 
 
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EXHIBIT INDEX
 
EXHIBIT
 
DESCRIPTION
 
99.1
Press release of Ampal-American Israel Corporation, dated June 14, 2010.
 

 
4
 
 
Exhibit 99.1
 

FOR:
AMPAL-AMERICAN ISRAEL CORPORATION
CONTACT:
Irit Eluz
 
CFO - SVP Finance & Treasurer
 
1 866 447 8636
 
irit@ampal.com
   
FOR:
KM/KCSA  - Investor Relations
CONTACT:
Roni Gavrielov
 
011-972-3-516-7620
 
roni@km-ir.co.il
   
 
Jeff Corbin / Marybeth Csaby
 
212-896-1214 / 212-896-1236
 
jcorbin@kcsa.com / mcsaby@kcsa.com
   
FOR:
PM-PR Media consultants
CONTACT:
Zeev Feiner
 
011-972-50-790-7890
 
z@pm-pr.com
 
Gadot Chemical Tankers and Terminals Ltd. ("Gadot") to Acquire a Chemical
Terminal in Western Europe
 
Tel Aviv – June 14, 2010 - Ampal-American Israel Corporation (Nasdaq: AMPL) ("Ampal"), a holding company in the business of acquiring and managing interests in various businesses, with emphasis in recent years on energy, chemicals, communications and related fields, announced today that Gadot, Ampal's wholly owned subsidiary, entered into an agreement to acquire a chemical storage terminal in Western Europe.

Gadot, through a wholly owned subsidiary, has signed an agreement for the acquisition of a chemicals storage terminal (the “Chemical Terminal”) with a storage capacity of approximately 100,000 cubic meters in Western Europe which occupies a land in the size of 25 Hectares.  The purchase price is €30,000,000 (approximately $36.2 million).

Closing of the transaction is subject to customary closing conditions, including, among others, obtaining financing and the consent of several customers of the sellers.

Mr. Yosef A. Maiman, Chairman President and CEO of Ampal, commented: "By acquiring the Chemical Terminal, Gadot will more than double its global liquid chemicals storage capacity and will be in an exceptional position to deliver products and services throughout the chemicals supply chain from producer to end-user. Synergies with VLS and BAX Chemicals, Gadot's wholly owned Benelux subsidiaries, will benefit Gadot’s global businesses, especially its European activities."
 
 
 
 
 
About Ampal:
Ampal and its subsidiaries acquire interests primarily in businesses located in the State of Israel or that are Israel-related. Ampal is seeking opportunistic situations in a variety of industries, with a focus on energy, chemicals, communications and related sectors. Ampal’s goal is to develop or acquire majority interests in businesses that are profitable and generate significant free cash flow that Ampal can control. For more information about Ampal please visit our web site at www.ampal.com.
 
Safe Harbor Statement
Certain information in this press release includes forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) and information relating to Ampal that are based on the beliefs of management of Ampal as well as assumptions made by and information currently available to the management of Ampal. When used in this press release, the words "anticipate," "believe," "estimate," "expect," "intend," "plan," and similar expressions as they relate to Ampal or Ampal's management, identify forward-looking statements. Such statements reflect the current views of Ampal with respect to future events or future financial performance of Ampal, the outcome of which is subject to certain risks and other factors which could cause actual results to differ materially from those anticipated by the forward-looking statements, including among others, the economic and political conditions in Israel, the Middle East, including the situation in Iraq, and the global business and economic conditions in the different sectors and markets where Ampal's portfolio companies operate. Should any of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results or outcome may vary from those described herein as anticipated, believed, estimated, expected, intended or planned. Subsequent written and oral forward-looking statements attributable to Ampal or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements in this paragraph. Please refer to the Ampal's annual, quarterly and periodic reports on file with the SEC for a more detailed discussion of these and other risks that could cause results to differ materially. Ampal assumes no obligation to update or revise any forward-looking statements.
 
 
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