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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 October, 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: October 25, 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 October 11, 1999, regarding the
completion of the transaction of the sale of 20% of the
issued and paid up capital of Sheraton Moriah (Israel) Ltd.
(formerly Moriah Hotels Ltd.) from Koor to Hapoalim Assets
(Shares) Ltd., a wholly-owned subsidiary of Bank Hapoalim
B.M..
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[Koor Letterhead]
EXHIBIT A
11 October, 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
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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. 37/99
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Further to Immediate Report No. 18/99 of Koor Industries Ltd. (hereinafter:
"Koor") dated May 12, 1999, Koor hereby gives notice as follows:
The transaction for the sale of 20% of the issued and paid up capital of
Sheraton Moriah (Israel) Ltd. (formerly Moriah Hotels Ltd.), from Koor to
Hapoalim Assets (Shares) Ltd., a wholly-owned subsidiary of Bank Hapoalim B.M.
(hereinafter: "Hapoalim Asssets") was completed, yesterday afternoon. The shares
were transferred against payment of approximately US $13 million which were paid
to Koor by Hapoalim Assets.
On completion of the above transaction, the shareholders of Sheraton Moriah
(Israel) Ltd. are as follows: Koor - 55%, World Sheraton Group - 25%, Hapoalim
Assets - 20%.
Yours sincerely,
Adv. Shlomo Heller
Legal Counsel and Company Secretary
