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 January, 2000
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: January 10, 2000 By: Shlomo Heller
Legal Counsel
and Company Secretary
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EXHIBIT DESCRIPTION
A. Translation from Hebrew to English of an Immediate Report
A (the "Report"), which was served on the Israeli Securities
Authority, The Tel-Aviv Stock Exchange Ltd. and the Registrar
of Companies, on January 3, 2000, regarding the sale of the
holdings of Tadiran Ltd to Nechushtan Investments Co. Ltd.
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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
January 3, 2000
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<S> <C> <C>
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: IMMEDIATE REPORT 1/2000
KOOR INDUSTRIES LTD. (COMPANY NO. 52-001414-3)
Further to Immediate Report No. 38/99 of Koor Industries Ltd. (hereinafter:
"Koor") dated October 26, 1999, in the matter of the sale of the holdings
of Tadiran Ltd. ("Tadiran") in Tadiran Appliances Ltd. ("TAL") to
Nechushtan Investments Co. Ltd. (a copy of the Immediate Report is
attached), Koor hereby gives notice as follows:
The final contract with Nechushtan was signed during the evening of
December 30, 1999.
The closing is contingent upon receipt of certain approvals, including that
of the Anti-Trust Commissioner.
The consideration in respect of Tadiran's holdings as stipulated in the
final contract is approximately NIS 132.7 million, which will be paid to
Tadiran on the closing date.
The expected capital loss to Koor from this transaction is incorporated,
mainly in the financial statements of Koor as at September 30, 1999.
Yours sincerely,
Adv. Shlomo Heller
Legal Counsel and Company Secretary
<PAGE>
[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
26 October 1999
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
Fax: 02-6513940 Fax: 03-5105379
Dear Sirs,
Re: KOOR INDUSTRIES LTD. (COMPANY NO. 52-001414-3)
IMMEDIATE REPORT NO. 38/99
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Koor Idustries LTD. ("Koor") hereby gives notice as follows:
Yesterday afternoon a binding memorandum of understanding has been signed
by Tadiran Ltd. (hereinafter: "Tadiran"), a wholly owned (100%) subsidiary
of Koor, for the sale of Tadiran's holdings - about 56% - in Tadiran
Appliances Ltd. (hereinafter: "TAL'), to Nechushtan Investment Co. Ltd.
(hereinafter: "Nechushtan").
The consideration for Tadiran's holdings will be calculated on the basis of
an agreed company value of TAL for the purpose of the transaction, which
will be 85% of the shareholders' equity of TAL according to TAL's financial
statements, for September 30 1999, subject to certain adjustments.
Tadiran and Nechustan will sign a final contract within 60 days.
The execution of the transaction, subject to due diligence, is conditioned
upon receiving certain approvals, including the approval of the Restrictive
Trade Commissioner.
Yours sincerely,
Adv. Shlomo Heller
Legal Counsel and Company Secretary
