Koor Industries Ltd. (KOR.TV) said Wednesday the sale of some of its shares in Credit Suisse Group AG (CS) is expected to add 32 million shekels ($8.25 million) to its third-quarter net profit.

Koor, an Israel-based holding company, has been buying and selling shares in Credit Suisse since July, 2008.

Wednesday Koor said it currently holds 29.28 million shares in Credit Suisse, or 2.47% of the Swiss banking company.

Koor said Tuesday it increased its line of credit by ILS1 billion to ILS6 billion in order to buy more Credit Suisse shares.

At 1130 GMT, shares of Koor were up ILS0.40, or 0.36%, at ILS112.40, in a higher Tel Aviv market.

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