The financially troubled Israeli supermarket chain sold 17 stores last week to Victory and Johananoff for NIS 95 million.
Financially troubled Israeli supermarket chain Mega has sold six more stores in its You discount chain. Mega has sold four You stores in Bat Yam, Rishon Lezion, Hadera and Lod to Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. (TASE:RMLI) for NIS 18 million. Mega has also sold two stores in Modi'in and Nesher to Machsenei Hashuk.
At the end of last week, Mega sold nine stores to Victory Supermarket Chain Ltd/ (TASE: VCTR) for NIS 35 million, and eight stores to Johananoff Group for NIS 60 million. All these deals are subject to approval by the Israel Antitrust Authority.
Mega, which has already dismissed 1,100 employees will now shed 1,000 more, although many employees will be taken in by the chains acquiring them.
Published by Globes [online], Israel business news - www.globes-online.com - on December 7, 2015
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Rami Levy