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TheStreet Open House

Alon Holdings Blue Square-Israel Announces Agreement For The Assignment Of Leases In Six Of Its Supermarket Stores

Stock quotes in this article: BSI

ROSH HAAYIN, Israel, July 9, 2012 /PRNewswire/ --

Alon Holdings Blue Square - Israel Ltd. (NYSE:BSI) ("Alon Holdings") announced today that its wholly owned subsidiary, Mega Retail Ltd. ("Mega"), had signed an agreement with a third party, pursuant to which Mega is to assign its lease rights in six of its supermarket stores and sell the related equipment for an aggregate consideration of NIS 16 million. The total premises of the six supermarket stores amounts to an aggregate of approximately 10,241 square meters. Closing of the agreement is subject to various conditions.

Alon Holdings Blue Square- Israel Ltd. (hereinafter: "Alon Holdings") is the leading retail company in the State of Israel and operates in four reporting segments: In its supermarket segment, Alon Holdings, through its 100% subsidiary, Mega Retail Ltd., currently operates 215 supermarkets under different formats, each offering a wide range of food products, "Near Food" products and "Non-Food" products at varying levels of service and pricing. In its "Non-Food" segment, Alon Holdings, through its 100% subsidiary BEE Group Retail Ltd., operates specialist outlets in self operation and franchises and offers a wide range of "Non-Food" products as retailer and wholesaler. In the Commercial and Fueling Sites segment, through its 78.38% subsidiary, which is listed on the Tel Aviv stock exchange ("TASE"), Dor Alon Energy in Israel (1988) Ltd is one of the four largest fuel retail companies in Israel based on the number of petrol stations and a leader in the field of convenience stores.  Dor Alon operates a chain of 198 petrol stations and 200 convenience stores in different formats in Israel. In its Real Estate segment, Alon Holdings, through its TASE traded 78.22% subsidiary Blue Square Real Estate Ltd., owns, leases and develops yield generating commercial properties and projects.

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