OFFICE DEPOT IN TALKS TO SELL ISRAELI UNIT ?

[Anonymous]

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.

[Author]

October 19, 2010 at 7:51 AM