SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(AMENDMENT NO. 10)
AMPAL - AMERICAN ISRAEL CORPORATION
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(Name of Issuer)
Class A Stock, par value $1.00 per share
--------------------------
(Title of Class and Securities)
032015 10 9
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(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)
January 5, 1999
--------------------------
(Date of Event which Requires
Filing of this Statement)
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. 032015-10-9
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1 NAMES OF REPORTING PERSONS
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) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
BRITISH VIRGIN ISLANDS
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7 SOLE VOTING POWER
11,070,712
NUMBER OF --------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH --------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH
11,070,712
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,070,712
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46.2%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
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<PAGE>
This statement constitutes Amendment No. 10 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 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 340,700 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 23,951,860 shares of Class A Stock of the Issuer
outstanding at October 31, 1998 as set forth in the Issuer's Quarterly Report
on Form 10-Q for the fiscal quarter ended September 30, 1998, Rebar holds
approximately 46.2% 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
- ---- --------- --------------- -----------
December 29, 1998 400 4.375 1,750.00
December 28, 1998 1,700 4.4302 7,531.34
December 24, 1998 10,500 4.50 47,250.00
December 23, 1998 14,300 4.5625 65,243.75
December 18, 1998 14,900 4.5336 67,550.64
December 17, 1998 82,400 4.625 381,100.00
December 16, 1998 5,000 4.625 23,125.00
December 15, 1998 4,600 4.6875 21,562.50
December 14, 1998 16,600 4.75 78,850.00
December 10, 1998 160,000 5.00 800,000.00
December 9, 1998 2,000 4.75 9,500.00
December 9, 1998 12,700 4.6284 58,780.68
December 8, 1998 10,700 4.7383 50,699.81
December 7, 1998 4,900 4.7499 23,274.51
TOTALS: 340,700 $ 1,636,218.23
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: President
Dated: January 5, 1999
