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The Israel Corporation (TASE: ILCO) is negotiating with Zadik Bino's energy company Paz to collaborate on energy, in some form.

Paz is one of the companies contending to buy the Ashdod refinery as Oil Refineries is privatized and split up. The Israel Corporation for its part has its eye on the bigger refinery in Haifa.

A spokesman for The Israel Corporation, which is controlled by the Ofer family, commented that he company constantly seeks out business opportunities, including with Paz.

He said that at this point no operative conclusions have been reached.