Zaki Shalom and Zvi Kuperly: Our terms for the deal have not been met.
The acquisition of Vita-Galilee Fruit Ltd. (Vita-Pri Galil) (TASE: VITA) by Zaki Shalom and Zvi Kuperly, the owners of independent supermarket chain Kol Bo Hazi Hinam Ltd., has collapsed. Shalom and Kuperly said that their terms for the deal had not been met.
Shalom and Kuperly won the auction for Vita held by the company's receiver, who was appointed at the behest of the banks. Shalom and Kuperly offered to acquire Vita's fixed assets - its production lines, plants, and brand, as well as its inventory - for NIS 105 million.
Last week, the Haifa District Court approved the sale, and dismissed the claims of Vita's unsecured creditors, who were not included in the deal.
Vita's share was unchanged at NIS 16.70 today.
Published by Globes [online], Israel business news - www.globes-online.com - on March 19, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009