ISRAEL/SOUTH AFRICA: Metro Cash & Carry sells off Israeli interests
South African retailer Metro Cash & Carry has announced it is to offload the bulk of its Israeli interests. It is to sell its stake in Club Market Marketing Chains , a food retailer, for US$28m in cash. The buyer is Elleren Investments , listed on the Israel Stock Exchange. The cash generated by the sale will go to pay down group debt.
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