Ormat May Restructure With U.S. Unit Acquiring Parent

Oct. 29 (Bloomberg) — Ormat Technologies Inc., a U.S.
developer of geothermal power, may acquire its Tel Aviv-based
parent company in an all-stock merger.

The arrangement would mean Ormat Industries Ltd. would de-list in Israel, with shareholders receiving stakes in the U.S.-
based company, according to a filing today with the Tel Aviv
Stock Exchange. Ormat Industries has a market value of 3.06
billion shekels ($813 million).

The company is establishing an independent committee to
consider the transaction, Reno, Nevada-based Ormat Technologies
said in a statement today.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Will Wade, Tina Davis

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