SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(AMENDMENT NO. 8)
AMPAL - AMERICAN ISRAEL CORPORATION
---------------------------
(Name of Issuer)
Class A Stock, par value $1.00 per share
---------------------------
(Title of Class and Securities)
032015 10 9
---------------------------
(CUSIP Number of Class of Securities)
Kenneth L. Henderson, Esq.
Robinson Silverman Pearce Aronsohn & Berman LLP
1290 Avenue of the Americas
New York, New York 10104
(212) 541-2000
----------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
September 8, 1998
----------------------------
(Date of Event which Requires
Filing of this Statement)
<PAGE>
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Statement because of
Rule 13d-1(b)(3) or (4), check the following:
( )
Check the following box if a fee is being paid with this Statement:
( )
<PAGE>
SCHEDULE 13D
CUSIP No. 032015-10-
____________________
___________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
REBAR FINANCIAL CORP.
___________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /__/
(b) /__/
___________________________________________________________________________
3 SEC USE ONLY
___________________________________________________________________________
4 SOURCE OF FUNDS
BK, AF
___________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E) /__/
___________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
BRITISH VIRGIN ISLANDS
___________________________________________________________________________
7 SOLE VOTING POWER
NUMBER OF 10,478,952
SHARES __________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY __________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 10,478,952
__________________________________________________________
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0
___________________________________________________________________________
<PAGE>
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,478,952
___________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES __
CERTAIN SHARES* /_/
___________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
43.77%
___________________________________________________________________________
14 TYPE OF REPORTING PERSON
CO
___________________________________________________________________________
<PAGE>
This statement constitutes Amendment No. 8 to the Statement on
Schedule 13D (the "Schedule 13D") filed with the Securities and Exchange
Commission by Rebar Financial Corp. ("Rebar") in connection with its
beneficial ownership of shares of Class A Stock ("Class A Stock") of Ampal-
American Israel Corporation, a New York corporation (the "Issuer"). Unless
otherwise defined herein, capitalized terms used herein shall have the
meanings set forth in the Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration
Item 3 is hereby amended and supplemented by adding the
following:
(b) Rebar used margin loans via a margin account maintained
with Oppenheimer & Co., Inc. and funds contributed by the Principals to
make the open market purchases of the shares of Class A Stock reported
herein.
Item 4. Purpose of the Transaction
This amendment is being filed to report the acquisition by Rebar
of an additional 388,300 shares of the Issuer's Class A Stock, purchased
since the filing of its most recent amendment to its Schedule 13D. The
shares were acquired for investment purposes and in order to increase
Rebar's equity stake in the Issuer. Other than as previously set forth in
its Schedule 13D and amendments thereto, Rebar has no plans or proposals
with respect to the Issuer's Class A Stock.
Item 5. Interest in Securities of the Issuer.
Item 5 of the Schedule 13D is hereby amended and supplemented by
adding the following:
(a) Based on 23,938,712 shares of Class A Stock of the Issuer
outstanding as set forth in its Quarterly Report on Form 10-Q for the
fiscal quarter ended June 30, 1998, Rebar holds approximately 43.77% of the
issued and outstanding Class A Stock of the Issuer.
(c) Since the filing of its most recent amendment to its
Schedule 13D, Rebar made the following purchases of Class A Stock in open
market transactions:
Date No. Shares Price per Share Total Price
- ----- ---------- --------------- -------------
September 8, 1998 200 4.5625 $ 912.50
September 4, 1998 1,600 4.50 7,200.00
September 3, 1998 7,700 4.50 34,650.00
September 2, 1998 2,000 4.625 9,250.00
September 1, 1998 6,000 4.6875 28,125.00
August 31, 1998 20,000 4.8156 96,312.00
August 28, 1998 18,000 4.9938 89,888.40
August 27, 1998 58,100 5.00 290,500.00
August 26, 1998 10,100 5.1015 51,525.15
August 25, 1998 2,800 5.00 14,000.00
August 6, 1998 6,500 5.3173 34,562.45
August 5, 1998 13,000 5.375 69,875.00
August 4, 1998 5,500 5.375 29,562.50
July 29, 1998 4,000 5.375 21,500.00
July 22, 1998 1,200 5.50 6,600.00
July 14, 1998 12,500 5.50 68,750.00
July 13, 1998 3,300 5.4981 18,143.73
July 10, 1998 16,200 5.4961 89,036.82
July 9, 1998 1,300 5.4471 7,081.23
July 8, 1998 5,000 5.4625 27,312.50
July 7, 1998 73,300 5.4859 402,116.47
July 6, 1998 2,100 5.4375 11,418.75
July 1, 1998 1,500 5.375 8,062.50
June 30, 1998 15,600 5.375 83,850.00
June 29, 1998 15,500 5.3306 82,624.30
June 3, 1998 2,700 5.50 14,850.00
June 2, 1998 8,200 5.50 45,100.00
June 1, 1998 1,500 5.50 8,250.00
May 29, 1998 7,000 5.50 38,500.00
May 28, 1998 1,000 5.375 5,375.00
May 27, 1998 12,100 5.4979 66,524.59
May 18, 1998 6,100 5.5625 33,931.25
April 3, 1998 21,400 5.625 120,375.00
February 26, 1998 3,700 5.0000 18,500.00
February 25, 1998 2,000 5.0000 10,000.00
February 24, 1998 7,000 4.9821 34,874.70
February 20, 1998 1,100 4.875 5,362.50
February 19, 1998 1,000 4.875 4,875.00
February 11, 1998 8,000 4.875 39,000.00
February 10, 1998 1,100 4.9886 5,487.46
February 9, 1998 1,400 4.875 6,825.00
TOTALS: 388,300 $2,040,689.80
<PAGE>
After reasonable inquiry and to the best of its knowledge and belief,
the undersigned certifies that the information set forth in this statement
is true, complete and correct.
REBAR FINANCIAL CORP.
By:/s/ Raz Steinmetz
-----------------------
Name: Raz Steinmetz
Title: Vice President
Dated: September 9, 1998
