Oil Refineries Updates on Gadot Biotechnologies Tender Offer
Published July 1st, 2009
Oil Refineries Ltd. (TASE: ORL.TA) (the “Company”), Israel’s largest oil refiner, announced that the tender offer announced May 27, 2009 by the Company and Delek Investment and Assets Ltd. for the acquisition of the outstanding share capital of Gadot Biotechnologies has not been completed given that the minimum required acceptance level was not met. Subsequently, Gadot remains a public company listed on the Tel Aviv Stock Exchange.
About Oil Refineries Ltd.
Oil Refineries Ltd. (ORL), located in the bay area of the city of Haifa, is Israel’s largest oil refinery. ORL operates sophisticated and state-of-the-art industrial facilities with refining capacity of 9 million tons of crude oil per year, with a Nelson complexity index of 7.4, providing a variety of quality products used in industrial operation, transportation, private consumption, agriculture and infrastructure. The Company is also active in the area of Aromatics and Polymers through wholly-owned Gadiv Petrochemical Industries Ltd. and 50% owned Carmel Olefins Ltd. ORL is traded on the Tel Aviv Stock Exchange under the ticker ORL. For additional information please visit the Company’s website: http://www.orl.co.il
