The sale of DIY chain Ace to Electra Consumer Products Ltd. (TASE:ECP) has been given the go ahead. Antitrust Authority director Prof. David Gilo gave his approval to the sale this evening, “Globes” has learned.
The terms of the approval may include restrictions on Electra.
Electra Consumer Products CEO Yaki Vadmani said, “We welcome the decision of the Antitrust Authority director, and wish the employees, customers, and suppliers of Ace, and all the people of Israel, a happy Purim holiday.”
Last month, the court approved the sale of Ace, which ran into financial difficulties in January, to Electra Consumer Products for NIS 129 million.
Published by Globes [online], Israel business news - www.globes-online.com - on March 8, 2012
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