The department store chain will report a profit of NIS 55 million on the sale
Department store chain Hamashbir 365 Holdings Ltd. (TASE:MSAH) has sold its 81% stake in Cibus Business Meals Ltd. to Sodexo Pass International SAS for NIS 71 million, giving Cibus a company value of NIS 90 million. Hamashbir will report a profit of NIS 55 million on the sale. The sale comes six months after the Antitrust Authority opposed the sale to Mealpass Motivation Solutions Israel Ltd..
Sodexo, founded in 1966, develops, manages, and provides a range of solutions and services for enterprises, including catering services. Sodexo has an annual turnover of €18 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on November 25, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012