Blue Square Announces it Received Announcement From Alon Israel Oil Company Ltd ("Alon") Regarding Change of Holdings in Alon
14 September 2009 - 7:14PM
PR Newswire (US)
ROSH HAAYIN, Israel, September 14 /PRNewswire-FirstCall/ -- Blue
Square-Israel Ltd. (NYSE:BSI) ("Blue Square") announced today that
it is informed by its parent company, Alon Israel Oil Company Ltd.
("Alon"), as follows: 1. On September 14, 2009, Alon and Africa
Israel Trade and Agencies Ltd. ("Africa") have signed an agreement
under which Africa shall sell and transfer to Alon its holdings in
Alon (ordinary shares equal to 26.14% of Alon`s issued share
capital) and as consideration, Alon shall sell and transfer to
Africa shares of Alon USA Energy, Inc. ("Alon USA"), a subsidiary
of Alon, and shall grant Africa an option to purchase from Alon
shares of Dor Alon Energy In Israel (1988) Ltd., a subsidiary of
Alon. The actual transfer of the shares and the closing of the
transaction will be executed subject to the receipt of the required
approvals under applicable law for the transfer of the shares, if
required. 2. As a result of the completion of said transaction, the
holdings in Alon (offsetting the dormant shares which shall be in
the possession of Alon) shall be as follows: Bielsol Investmens
(1987) Ltd. ("Bielsol") together with the shares which are held by
Mr. David Wiessman: approximately 53.1%. Collective acquisition
entities of Kibbutzim in Israel, represented by Delek Holdings
(Established by the Kibbutz Organizations) Ltd. ("Delek Holdings"):
approximately 46.9%. Blue Square-Israel Ltd. is a leading retailer
in Israel. A pioneer of modern food retailing, in the region. Blue
Square currently operates 202 supermarkets under different formats,
each offering varying levels of services and prices. For more
information, please refer to the Blue Square-Israel Ltd. website at
http://www.bsi.co.il/. Forward Looking Statements This press
release contains forward-looking statements within the meaning of
safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. Forward-looking statements may include, but are
not limited to, plans or projections about our business and our
future revenues, expenses and profitability. Forward-looking
statements may be, but are not necessarily, identified by the use
of forward-looking terminology such as "may," "anticipates,"
"estimates," "expects," "intends," "plans," "believes," and words
and terms of similar substance. Forward-looking statements involve
known and unknown risks, uncertainties and other factors that may
cause actual events, results, performance, circumstance and
achievements to be materially different from any future events,
results, performance, circumstance and achievements expressed or
implied by such forward-looking statements. These risks,
uncertainties and other factors include, but are not limited to,
the following: our ability to compete effectively against
low-priced supermarkets and other competitors; the effect of the
recession in Israel on the sales in our stores and on our
profitability; quarterly fluctuations in our operating results that
may cause volatility of our ADS and share price; risks associated
with our dependence on a limited number of key suppliers for
products that we sell in our stores; the effect of an increase in
minimum wage in Israel on our operating results; the effect of any
actions taken by the Israeli Antitrust Authority on our ability to
execute our business strategy and on our profitability; the effect
of increases in oil, raw material and product prices in recent
years; the effects of damage to our reputation or to the reputation
to our store brands due to reports in the media or otherwise; and
other risks, uncertainties and factors disclosed in our filings
with the U.S. Securities and Exchange Commission, including, but
not limited to, risks, uncertainties and factors identified under
the heading "Risk Factors" in our Annual Report on Form 20-F for
the year ended December 31, 2008. You are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. Except for our ongoing
obligations to disclose material information under the applicable
securities laws, we undertake no obligation to update the
forward-looking information contained in this press release.
Contact: Blue Square-Israel Ltd. Elli Levinson-Sela General Counsel
& Corporate Secretary Telephone: +972-3-9282670 Fax:
+972-3-9282498 Email: DATASOURCE: Blue Square Israel Ltd CONTACT:
Contact: Blue Square-Israel Ltd., Elli Levinson-Sela, General
Counsel & Corporate Secretary, Telephone: +972-3-9282670, Fax:
+972-3-9282498, Email:
Copyright