It’s official: Dutch retailer SPAR entering Israel
Categories: Corporate and M&A
Shufersal, Israel’s largest retail chain, and Amit Zeev have signed an agreement with Netherlands-based retailer SPAR to set up a SPAR chain in Israel through a jointly owned company.
Subject to approval by the Competition Authority, the deal will see the joint company 19.9% owned by Shufersal and 80.1% owned by Zeev.
The agreement provides that Shufersal and SPAR will be able to compete with each other. Shufersal will inject NIS 28 million into the joint company in milestone payments, partly as an investment and partly as an owner’s loan.
