Gadot completes ADPO
Ghent NV purchase
Aug 25, 2010 10:53 AM
Ampal-American Israel Corporation announced that its subsidiary, Gadot, through its wholly owned subsidiaries, has completed the previously announced purchase of the entire issued and outstanding share capital of ADPO Ghent NV for a purchase price of approximately $38.1 million.
The transaction was completed August 20, 2010. Gadotís subsidiary obtained a long-term credit facility from Israel Discount Bank Ltd for financing of the purchase price.
ADPO owns and operates a chemical storage terminal in Ghent, Belgium, over an area of 25 hectares of land, with a storage capacity of about 100,000 cubic meters. Its purchase will allow Gadot to expand its global business and maximize deliveries of products and services worldwide.
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