S. Shlomo Holdings Ltd. (TASE:SHLD) has called off the advanced talks to acquire the Sonol gas station chain from Azrieli Group Ltd. (TASE: AZRG) following the death of its chairman and owner Shlomo Shmeltzer. After notifying the Tel Aviv Stock Exchange of the cancellation of the deal that was very close to agreement, it was also announced that Azrieli controlling shareholder David Azrieli had died. RELATED ARTICLES Shlomo Shmeltzer dies Azrieli signs NIS 450m Sonol sale deal Shlomo Group's notification to the TASE said, "After the unexpected death of Mr. Shlomo Shmeltzer, chairman and controlling shareholder, the company has decided to end the talks regarding acquiring Sonol shares." Shlomo Group was reportedly set to buy Sonol for NIS 450 million after signing a Memorandum of Understanding last month. The sale by Azrieli Group unit Granite Hacarmel Investments Ltd. was part of the group's strategy of selling off assets that are not in its core business of income-producing properties. Published by Globes [online], Israel business news - www.globes-online.com - on July 9, 2014 © Copyright of Globes Publisher Itonut (1983) Ltd. 2014
