Despite previous denials by Nochi Dankner, CEO of Super-Sol owner IDB Holding Corporation, IDB yesterday (17 March) confirmed reports that it is holding talks with Bronfman-Fisher Investments concerning the sale of its controlling stake Israel’s largest supermarket chain.
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In a notice to the Tel Aviv Stock Exchange the holding company reported that its representatives would meet representatives of the Bronfman-Fisher group “to examine the move”.
Trade sources in Tel Aviv commented that there is no certainty that the parties will sign a deal “in the very near future”. It has been noted that the difference between Bronfman’s offer and IDB’s minimum demand is US$50m: Bronfman, who recently sold his shares in Blue Square, offered US$1.11bn for Super-Sol, whereas IDB’s minimum demand is US$1.16bn.
