IRSA sheds stake in Israeli supermarket chain

IRSA sheds stake in Israeli supermarket chain

Corporate & Sovereign Strategy M&A Argentina Latin America Coronavirus

Argentine real estate developer IRSA Inversiones y Representaciones said its Discount Investment Corporation (DIC) unit has sold its stake in the Israeli supermarket chain Shufersal, a latest move to raise cash as the COVID-19 pandemic hits its shopping mall business at home. DIC, a holding company based in Tel Aviv, sold its 26% stake in Shufersal, one of the biggest supermarket chains in Israel with 377 stores, for ILS1.46 billion ($427 million), IRSA said in a securities filing on Thursday. I

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial