 HSBC seeks more business in Israel
HSBC seeks more business in Israel
Top British bank official: Israel is important to HSBC, there is a lot of business here
Reuters Published: 10.04.06, 09:08
British bank HSBC seeks to expand its business in Israel , a top official said on Tuesday.
"Israel is important to HSBC," said Philip Wolfe, director of resources and energy group for HSBC's global investment banking.
"There's a lot of business here," he said after a ceremony that completed the more than USD 750 million sale of Israel's Oil Refineries' Ashdod plant to Paz Oil Co. by the government.
HSBC, which has a large presence in Tel Aviv, acted as the Israel's government's financial adviser in the privatization.
"Israel got a very full price for it -- which was a function of a competitive auction and quality of asset," Wolfe said.
Israel is also selling its much larger Oil Refineries Haifa plant through a share offering on the Tel Aviv Stock Exchange planned for early 2007.
Wolfe declined to say whether the bank would participate
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Tel Aviv:
94 approved
48 proposed
37 under construction |