Tuesday 08. July 2008
Hadera Paper Ltd. Update of Negotiation for the Acquisition of Holdings
Hadera Paper Ltd. (AMEX:AIP) (AIPM) announced today that following the Company’s announcement dated July 2, 2008 regarding negotiation to purchase the holdings (49.5%) of the main shareholder of Carmel Containers Systems Ltd. (“Carmel”, an affiliated company), the Company’s Board of Directors authorized the Company’s management to purchase the above-mentioned holdings and also, the holdings of a number of additional shareholders in Carmel, all together, a total of approximately 53% of Carmel’s shares, for the total consideration of approximately $ 20.77 million.