Yesterday evening, the trustees of the Mega supermarket chain, Adv. Ehud Gindes, Adv. Amir Bartov, and Gabi Trabelsi, CPA, announced that they were cancelling the auction for the sale of the chain. The trustees said that all the bids that had been received were inadequate.
"After meeting the bidders and examining the bids for the purchase of Mega, including the bid that was submitted just this evening, the trustees are of the opinion that none of the bids is sufficient, and they do not intend to recommend any of the bids that have been submitted. Mega is a very valuable asset, with excellent branches in the very best urban locations and professional employees and loyal customers. The trustees will continue to run the chain until a quality buyer is found who will offer an appropriate price in the hundreds of millions of shekels," the trustees said in a statement.
The trustees also said that the chain was ready for the upcoming Passover holiday.
Published by Globes [online], Israel business news - www.globes-online.com - on March 22, 2016
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