Dell Inc. (Nasdaq: DELL) founder Michael Dell has become a party at interest in independent supermarket chain Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. (TASE:RMLI). MSD European Opportunity Master Fund LP, a unit Dell's MSDC Management LP has acquired 4.8% of Rami Levy 650,000 shares at NIS 139.20 per share for NIS 90.5 million. As a result of the purchase, MSD owns 833,016 Rami Levy shares, for a 6.18% stake.
According to Rami Levy's notice to the TASE today, MSD had previously bought 183,000 shares in the company.
Dell's MSD European Opportunity Master Fund invests in European public companies.
Rami Levy Chain Stores CEO Rami Levy said today, "We are proud that a leading international investor in the form of Michael Dell's investments company has become a party at interest in Rami Levy Chain Stores. We consider MSD's investment in our company as a vote of confidence in the Israeli economy in general and in Rami Levy Chain Stores in particular."
Rami Levy's share price rose 0.8% today to NIS 146.50, giving a market cap of NIS 2 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on March 27, 2013
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