Bronfman-Alon acquires Co-Op's holdings in Blue Square-Israel
Blue Square-Israel Ltd. had been notified of the completion of the sale of Co-Op Blue Square Services Society Ltd.'s holdings in Blue Square (representing 78.1 percent of Blue Square's outstanding share capital) to Bronfman—Alon Ltd. in consideration for the payment of 1.337 billion new Israeli shekels ($288.3 million) plus interest from the date of the bid to the date of purchase.
Blue Square has been notified that all required consents for the transaction have been obtained, including that of the Israeli Antitrust Authority. Blue Square-Israel Ltd is a leading retailer in Israel. A pioneer of modern food retailing in the region, Blue Square currently operates 162 supermarkets under different formats. — (menareport.com)
© 2003 Mena Report (www.menareport.com)