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Monday, December 26, 2011

Ampal's Maiman must repay NIS 1b - Globes

Ampal's Maiman must repay NIS 1b - Globes: "the gas flow to Israel has been repeatedly interrupted due to attacks on pipelines in Sinai, which occurred before EMG ever distributed a dividend to its shareholders. This fact will make it harder for Ampal to repay its debt to its bondholders in the coming years, which is why it has asked for a two-year postponement on payment of the principal.
The debt settlement could be solved if the bondholders were forced to accept force majeure, or as in the case of other hasty businesses, had Ampal bought the EMG shares from its own controlling shareholder, Yosef Maiman, for $355 million"

'via Blog this'

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