Israel's Paz Oil loses controlling stake after owner sells shares

September 18, 2016 8:58 AM

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* Israel's Paz Oil said on Sunday its controlling shareholder sold shares in the company to bring its stake in Paz to below the threshold where it can maintain control.

* Bino Holdings sold 14,093 shares of Paz, Israel's largest distributor or refined oil products, at 582.66 shekels a share in a sale to an unnamed financial body for 8.2 million shekels ($2.2 million).

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