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Mivtachim, Gmul looking at Blue Square Israel buyout

Pension fund Mivtachim planning to sell insurance policies at supermarket branches

Pension fund Mivtachim and Gmul Investments (TASE: GMUL )group are forming a group to bid for control in Blue Square Israel (NYSE:BSI), Yedioth Ahronoth reports.

The supermarket chain will be on the block soon, part of the sale of assets by Co-Op Blue Square Consumers' Cooperative Society. The paper that should the deal close, Mivtachim plans to sell insurance plans at branches of the food retailer, exploiting its nationwide deployment.

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