HSBC investment bank sees growth in Israel
(4 October 2006 – Israel) HSBC is set to grow its business in Israel, saying the country offers a "lot of business" for the UK bank.
The comment came from HSBC director of resources and energy Philip Wolfe at a ceremony to celebrate the completion of the US$750 million sale of the Israeli government oil refineries plant at Ashdod to Paz Oil Co.
HSBC acted as advisor to the Israeli government in the privatisation of the plant.
Wolfe said Israel received a "very full price" for the plant due to a combination of a "competitive auction and quality of asset".
Israel is also set to sell its Haifa oil refinery plant, which is much larger than Ashod but HSBC did not say whether it would participate in the deal.
HSBC acted as advisor to the Israeli government in the privatisation of the plant.
Wolfe said Israel received a "very full price" for the plant due to a combination of a "competitive auction and quality of asset".
Israel is also set to sell its Haifa oil refinery plant, which is much larger than Ashod but HSBC did not say whether it would participate in the deal.
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