Bino hands over payment for Oil Refineries Ashdod: Paz paid NIS 3,251,409,213, $60 million less that the original offer, because of the drop in the price of oil.

From: Globes (Tel Aviv, Israel) | Date: September 28, 2006 | Copyright information

Byline: Gal Nissim

Sep. 28--Paz Oil Company Ltd., controlled by Zadik Bino through Bino Holdings Ltd., today paid the state NIS 3,251,409,213 for Oil Refineries Ashdod, after presenting the financial deal to the Government Companies Authority and Oil Refineries' management. Paz paid $60 million less than in its original bid because the drop in the price of oil reduced the value of Oil Refineries Ashdod's inventory.

Government Companies Authority director Eyal ...

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