Two days after Shufersal chairman Yaki and Damani resigned from the board, the company announced that negotiations on it had been reported last February with Mini Line had not matured, and today (Thursday) the parties stopped the conversation.
Two months ago it was reported that the retail chain Shufersal As part of its growth strategy, it began negotiations to purchase 60% of the shares of Mini Line, an importer of electrical products and owner of the ALM chain of stores, for an amount of NIS 560 million, reflecting a company value of NIS 936 million for Mini Line. .
When the negotiations were announced, it was estimated that the person in charge of the purchase of Mini Line was Yaki and Damani, who was appointed chairman of Shufersal in 2020, after a long career in retail, during which he served as CEO of Electra Consumer, which imports, manufactures and markets products. Electricity and operates Shekem Electric and electricity warehouses.
The cessation of negotiations with Mini Line comes 24 hours after the Shufersal board of directors, headed by interim chairman Ran Gottfried, rejected the merger proposal submitted to it by the owners of Delek Israel.