Chairman of Koor Resigns

The chairman of Koor Industries, Arnon Gafni, resigned Monday in protest against efforts to sell the financially ailing conglomerate to foreign investors.

Gafni accused Benny Gaon, director general of the giant Histadrut-owned enterprise, of negotiating behind his back.

Gaon, together with government and Hista-drut officials, have been talking to representatives of the American Shamrock Corp. of the United States and the Toronto-based Belzberg family investment group.

Each is reported to have bid for Koor, but so far no deal has been struck.

Gafni opposes the sale of Koor to foreigners. But financial experts say that unless a buyer is found, the bankrupt enterprise will be turned over to creditors and stripped of its assets.

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