Blue Square-Israel to Retain Its Holdings in Home Centers Ltd.GIVATAYIM, Israel--(BUSINESS WIRE)--April 28, 1998--Blue Square-Israel Ltd. (NYSE NYSE See: New York Stock Exchange : BSI BSI - British Standards Institute ) announced today that the conditions of an agreement for the sale of 8.8% of Blue Square's affiliate, Home Centers (DIY DIY abbr. do-it-yourself DIY or d.i.y. Brit, Austral & NZ do-it-yourself DIY abbr DIY do it yourself a DIY shop/job. ) Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : HOMEF) ("Home Centers") to Bilu Enterprises (H.C.) Ltd., as announced in a press release dated April 13, 1998, have not been fulfilled, and that the transaction will not take place. Another agreement announced in the April 13, 1998 press release regarding Blue Square's intended purchase of Koor Industries Ltd.'s (NYSE: KOR) 15.4% stake in Home Centers is still pending the approval of Israel's Anti-Trust Authority. Blue-Square Israel Ltd. is the largest retailer in the State of Israel both in terms of sales Terms of sale Conditions under which a firm proposes to sell its goods or services for cash or credit. volume and number of stores, operating 149 supermarkets and 39 specialty and department stores. Through these outlets, the Company offers a wide range of consumer products, including food and beverages, apparel, housewares house·wares pl.n. Cooking utensils, dishes, and other small articles used in a household, especially in the kitchen. , electronics, and cosmetics. The statements contained in this release which are not historical facts contain forward-looking information with respect to plans, projections, or future performance of Blue Square - Israel Ltd. ("the Company"), the occurrence of which involve certain risks and uncertainties, including risk of market acceptance, the effect of economic conditions, the impact of competitive pricing, supply constraints, the effect of the Company's accounting policies, as well as certain other risks and uncertainties which are detailed in the Company's filings with the Security and Exchange Commission, particularly the prospectus with respect to its public offering in July, 1996. CONTACT: Jody Burfening Lippert/Heilshorn & Associates, Inc. 212-838-3777 (ext. 304) jody@lhai.com or Iris S. Bodenheimer, Adv. Blue Square-Israel Ltd. Tel: 972-3-572-1205 Fax: 972-3-573-4560 |
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