Co-Op Israel to sell Blue Square shareholding to Bronfman-Alon Group
Blue Square-Israel has been informed that the highest bid for the holdings of Co-Op Blue Square Services Society in Blue Square for the amount of 1.3 billion Israeli shekels ($280 million) was submitted by the Bronfman-Alon Group.
The Tender Committee authorized to conduct the sale of these shares has requested the Tel-Aviv District Court to approve that the highest bid of the Bronfman-Alon Group be declared as the “preferred bidder" as defined in the tender procedure. The District Court of Tel-Aviv will report its decision regarding the matter on Thursday April 10, 2003.
Blue Square-Israel operates 170 supermarkets under different formats, each offering varying levels of services and prices. — (menareport.com)
© 2003 Mena Report (www.menareport.com)