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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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Date: November 12, 1999 By: Shlomo Heller
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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 11, 1999, regarding the sale of
Tadiran's holdings in Tadiran Com. Ltd..
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[LOGO] KOOR INDUSTRIES LTD.
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OFFICE OF LEGAL COUNSEL
21 Ha'arba'a Street
Tel Aviv 64739
Israel
Tel: 972-3-6238420
Fax: 972-3-6238425
11 November 1999
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The Securities Authority The Tel Aviv Stock Exchange The Registrar of Companies
22 Kanfei Nesharim St. 54 Ahad Ha'am St. 97 Yafo St.
Jerusalem 95464 Tel Aviv 65202 Jerusalem 91007
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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. 40/99
Further to the Immediate Report No. 25/99 dated 13 June 1999, a copy of
which is enclosed herewith, Koor Industries Ltd. (Hereinafter: "Koor"),
gives notice as follows:
Yesterday, late afternoon, notice has been received at the offices of Koor,
from Tadiran Ltd. (hereinafter: "Tadiran"), that on November 10, 1999 an
agreement has been signed with the buyers, as mentioned in the 25/99 Report
for the sale of all of Tadiran's holdings in Tadiran Com. Ltd.. Together
with the sale agreement, additional agreements have been signed. Since all
necessary approvals have already been received for the execution of the
transaction, therefore the transaction took place the same day, the shares
have been transferred to the buyers and the consideration has been
received.
Tadiran received approximately 149 Million Dollars and the expected net
(after taxes) profit from this transaction for Koor totals approximately
42.5 Million Dollars.
Adv. Shlomo Heller
Legal Counsel and Company Secretary
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June 13, 1999
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The Securities Authority The Tel Aviv Stock Exchange The Registrar of Companies
22 Kanfei Nesharim St. 54 Ahad Ha'am St. 97 Yafo St.
Jerusalem 95464 Tel Aviv 65202 Jerusalem 91007
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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. 25/99
Koor Industries Ltd. ("Koor") hereby gives notice as follows:
On Friday, June 11, 1999, agreement in principle was reached between
Tadiran Ltd. - a wholly-owned subsidiary of Koor (hereinafter - "the
Seller"), and the Shamrock Group together with FIMI, the First Israel
Mezzanine Investors Ltd. (hereinafter together "the Buyers"), for the sale
of all of the Seller's holdings in Tadiran Communications Ltd. to the
Buyers in consideration of the agreed sum of 155 million dollars.
The transaction requires the approval of various entities and is subject to
the results of the due diligence which shall be conducted by the Buyers.
Tadiran Communications Ltd. is a private company, wholly-owned by Tadiran
Ltd. (the Seller), whose principal business is military communications
equipment.
Yours sincerely,
Adv. Shlomo Heller
Legal Counsel and Company Secretary
