Paz Oil Business (TASE: PZOL) notified the Tel Aviv Stock Exchange this morning that it opposes the bid by Yossi and Shlomi Amir to get regulate of supermarket chain Shufersal (TASE: SAE). Paz states that the Amir brothers signed a 3-calendar year non-compete agreement with it when it purchased the Freshmarket chain from them previous 12 months.
“The enterprise has educated the Amir brothers in producing that their supply signifies a breach of their determination not to compete for a period of 36 months from the day of completion of the merger (until eventually January 1, 2025), and also a breach of their obligations under regulation as officers of Freshmarket. In the gentle of the above, the firm has knowledgeable the Amir brothers that they must withdraw their supply to obtain shares in Shufersal,” Paz’s recognize to the stock trade states.
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The Amir brothers are featuring NIS 2.46 billion (NIS 28 for every share) for an allocation of 88 million shares in Shufersal, symbolizing 24.9% of its issued and paid share capital. Shufersal’s share value shut at NIS 27.20 yesterday, meaning that the supply represents a top quality of just 3%.
In August final yr, the Amir brothers, who managed the Freshmarket supermarket chain, led its sale to Paz at a valuation of NIS 2 billion. The offer was finished in January this yr, and Freshmarket’s shares were being delisted from the Tel Aviv Stock Exchange.
Revealed by Globes, Israel business enterprise information – en.globes.co.il – on March 15, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
