Koor Industries Ltd. (KOR.TV) said Sunday it has completed a deal to buy the main building of HSBC Holdings PLC (HBC) in New York for $330 million.

Koor said the sale will be completed and it will have rights to the building by March 10, 2010.

Koor has bought the building in cooperation with its sister company Property and Building Corp. Ltd. (PTBL.TV).

Both Koor, a holding company with interests mainly in telecommunications, other technological development and manufacturing, and Property and Building, a construction company, are partly held by Discount Investment Corp. Ltd. (DISI.TV), a large Israeli holding company.

On Sunday, shares of Koor closed up ILS0.10, or 0.09%, at ILS117.00 ($30.80), shares of Property and Building closed down ILS3.80, or 1.35%, at ILS277.80, and shares of Discount Investment closed up ILS0.80, or 0.85%, at ILS94.70 in a higher Tel Aviv market.

-By Sara Toth Stub, Contributing to Dow Jones Newswires, saratoth@gmail.com