The privately-held Borovich-Rosen corporation is today closing the acquisition of Club Market, a supermarket chain, and Neopharm, a chain of pharmacies. The acquisitions will cost it between NIS 430 million to NIS 440 million, has leaened.

Borovich-Rosen, run by Knafim's Izzy Borovich and Yossi Rosen, formerly of the Israel Corporation, is buying 98.5% of the share capital in Club Market. The other 1.5% is held by Giora Sarig, chief executive of the Delek Group.

In Neopharm 100% of the share capital is changing hands.

Borovich-Rosen decided against buying Hamashbir Foods, over which four other grouips are contending ¿ including SuperSol (NYSE:SAE) and the Superpharm chain of pharmacies.

The Borovich-Rosen corporation plans to have Club Market run by a panel, to be headed by Yossi Rosen, Tamar Mozes-Borovich and Izzy Borovich.

The panel will be choosing a new chief executive for the supermarket chain. Insofar as is known the leading candidate is Yacov Ginzburg, today the chief executive of the Hamashbir Lazarchan department store chain.

With Anat Bein