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Headline: Africa Israel buys Spanish fashion chain Zara for NIS 57m.
Byline: ZEV STUB
Edition; Daily
Section: Economics
Page: 16
Monday, December 2, 2002 -- Africa Israel Investments said Sunday
it would acquire Hamashbir Lazarchan's domestic marketing rights for
Spanish fashion chain Zara, paying NIS 57 million to the cash- strapped
department store chain through its 50 percent holding in Generique.
In addition to the rights to Zara, which has an annual turnover of
NIS 200m., the deal also includes the rights to the Pull & Bear fashion
outlet, which has annual sales of NIS 60m. in its 15 stores. In the
future, Africa Israel will also gain control of Bershka, a ...