OFFICE DEPOT IN TALKS TO SELL ISRAELI UNIT ?

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OFFICE DEPOT IN TALKS TO SELL ISRAELI UNIT ?

 user 2010-10-19 at 7:49:00 am Views: 53
  • #24372

    http://www.marketwatch.com/story/office-depot-in-talks-to-sell-israel-unit-to-chain-2010-10-13
    OFFICE DEPOT IN TALKS TO SELL ISRAEL UNIT  ?
    TEL AVIV  — Office Depot Inc.,the Boca Raton, Fla., office-supplies retailer, is in talks to sell its Israel subsidiary to New Hamashbir Lazarchan Ltd. for $47 million, less the amount of the unit’s debt when the deal closes. Office Depot operates 46 stores in Israel. As part of the deal, Office Depot said in a late-Tuesday statement, it would license certain trade names and intellectual-property rights to New Hamashbir. The Israeli chain was founded in 1947 and now operates 37 department stores with 3,500 employees. New Hamashbir shares were recently up 3.5% on the Tel Aviv Stock Exchange.