Ampal-American Israel Corporation
Encyclopedia
Ampal-American Israel Corporation is a holding company
, which primarily acquires interests in businesses located in the State of Israel or that are Israel-related.
The company's main holding is a 12% stake in the East Mediterranean Gas Company
(EMG), a joint venture
company set-up to handle the export of Natural gas
from Egypt to Israel.
Following four terror attacks on the gas pipeline that contects to the company's Arish–Ashkelon pipeline, supply has been interrupted and as of Sptemebr 2011 has not resumed. As a result the company's debentures have been downdraged by Moody's
to BA3.
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
, which primarily acquires interests in businesses located in the State of Israel or that are Israel-related.
The company's main holding is a 12% stake in the East Mediterranean Gas Company
East Mediterranean Gas Company
East Mediterranean Gas Company is an owner and operator of the Arish–Ashkelon pipeline. It is a joint company of Mediterranean Gas Pipeline Ltd , the Israeli company Merhav , PTT , EMI-EGI LP , and Egyptian General Petroleum Corporation ....
(EMG), a joint venture
Joint venture
A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...
company set-up to handle the export of Natural gas
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
from Egypt to Israel.
Following four terror attacks on the gas pipeline that contects to the company's Arish–Ashkelon pipeline, supply has been interrupted and as of Sptemebr 2011 has not resumed. As a result the company's debentures have been downdraged by Moody's
Moody's
Moody's Corporation is the holding company for Moody's Analytics and Moody's Investors Service, a credit rating agency which performs international financial research and analysis on commercial and government entities. The company also ranks the credit-worthiness of borrowers using a standardized...
to BA3.