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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the Month of November, 1999
Koor Industries Ltd.
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(Translation of registrant's name into English)
4 Kaufman Street, Tel-Aviv, 68012, Israel
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
FORM 20-F X FORM 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to rule 12g3-2(b) under the Securities Exchange Act of 1934.
YES NO X
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If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-_____
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
/s/ Shlomo Heller
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By: Shlomo Heller
Title: General Counsel & Corporate
Secretary
Dated: November 30, 1999
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Exhibit Description
A Translation from Hebrew to English of an Immediate Report (the
"Report"), which was served on the Israeli Securities Authority,
The Tel-Aviv Stock Exchange Ltd. and the Registrar of Companies,
on November 28, 1999, regarding the sale of Tadiran Telematics
Ltd. to Ituran Location and Control Ltd.
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[Koor Letterhead]
EXHIBIT A
28 November, 1999
The Securities Authority The Tel Aviv Stock The Registrar of Companies
22 Kanfei Nesharim St. Exchange 97 Yafo St.
Jerusalem 95464 54 Ahad Ha'am St. Jerusalem 91007
--------------- Tel Aviv 65202 ---------------
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Fax: 02-6513940 Fax: 03-5105379
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Dear Sirs,
Re: KOOR INDUSTRIES LTD. (COMPANY NO. 52-001414-3)
IMMEDIATE REPORT NO. 42/99
Koor Industries Ltd. (Hereinafter: "Koor"), hereby gives notice as follows:
This morning, notice was received at the offices of Koor from Tadiran Ltd.
(hereinafter: "Tadiran"), a wholly-owned (100%) subsidiary of Koor, that on
November 25th 1999, late afternoon, an agreement has been signed in which
Tadiran will sell all its holdings (100%) at its subsidiary Tadiran Telematics
Ltd., (hereinafter: "Telematics") to Ituran Location and Control Ltd.
The exchange which will be paid to Tadiran will be $7,500,000 after a dividend
distribution in the amount of $1,000,000.
Net loss s (after taxes) which will be registered in the Koor books as a result
of the transaction will be about 10 Million NIS.
The execution of this transaction is conditioned upon receiving certain
approvals including the approval of the Restrictive Trade Commissioner.
Sincerely yours,
Adv. Shlomo Heller
Legal Counsel and Company Secretary
