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Blue Square-Israel Ltd.
Blue Square Signs Agreement to Acquire Additional Shares in its Subsidiary, Bee Group Retail Ltd., Increasing its Holdings to 85%
August 23rd, 2008
Blue Square-Israel Ltd. (NYSE:BSI) (hereinafter: "Blue Square") announced the signing of an agreement to acquire 25% of the outstanding share capital of Bee Group Retail Ltd. ("Bee Group"), a 60% subsidiary of Blue Square, from the other shareholders of Bee Group (the "Sellers"), increasing Blue Square's interest in Bee Group to 85%. Blue Square is to pay NIS 35.4 million for these shares. Under the terms of the agreement, during the five-year period from closing, Blue Square would be entitled to acquire the remaining 15% of Bee Group's capital stock (the "Remaining Shares") for the aggregate consideration of approximately NIS 21.24 million, increased by 7.5% annually...
Source: Law & Health Weekly (2008-08-23)
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