Article: Ellern buys majority stake in Club Market for $72m.

SHARON BERGER
Jerusalem Post
09-14-2001
Headline: Ellern buys majority stake in Club Market for $72m.
Byline: SHARON BERGER
Edition; Daily
Section: Economics
Page: 11

Friday, September 14, 2001 -- Ellern Investments has agreed to buy the shares of Co- Op North Metro Ltd. for $72 million, via a fully-owned subsidiary company. Co-Op Metro holds 68.5 percent of Club Market Marketing Chains, Israel's third largest supermarket chain, 100% of Mashbir Food, 95% of New Pharm Drugstore, and 95% of cosmetics and perfume chain April.

As Ellern has not decided whether it will keep New Pharm, April, and Mashbir Food, there is an option for it to sell these holdings back to Co-Op Metro for $6m.

Ellern, which ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!