The trustees for the Mega retail chain, Ehud Gindes, Gabi Trabelsi, and Amir Bartov, today announced their decision to extend by an additional 10 days the tender deadline for the sale of the Mega retain chain. The deadline for submitting bids to acquire the chain will accordingly be 4 PM on March 3, 2016.
The trustees explained that parties interested in acquiring the chain had contacted them and asked them to extend the deadline because they needed more time to complete their preliminary inquiries and obtain financing for submitting bids.
The trustees are charging a NIS 30,000 fee for the tender documents, and every bidder is also required to deposit a NIS 40 million bank guarantee. The high cost of these requirements has been criticized. The cost of the bank guarantee is NIS 160,000.
According to the trustees, four business groups have already purchased the tender documents. These are believed to be Victory Supermarket Chain Ltd./ (TASE: VCTR), the Sagol-Mital group, Tiv Taam Holdings 1 Ltd. (TASE:TTAM), and Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. (TASE:RMLI).
Published by Globes [online], Israel business news - www.globes-online.com - on February 18, 2016
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