Ampal-American Israel to acquire up to 35 percent of Merhav’s Colombia sugarcane ethanol project; Ecopetrol to acquire another 25 percent.

In Israel, Ampal-American Israel announced an agreement to acquire up to 35% of Merhav’s sugarcane ethanol project in Colombia. Ampal has provided $20 million in loans at LIBOR plus 2.25 percent to the project which include a one-year option to convert into equity, secured by Merhav’s shareholding in Ampal.

In addition Merhav has signed a Memorandum of Understanding with Ecopetrol who will take up to 25 percent of the equity in the project.

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