Alon Blue Square (BSIRY) Receives Final Court Approval for Debt Arrangement
- Wall St. slips as countdown to Trump's swearing-in begins
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- Apple (AAPL) PT Raised to $140 at BofA/Merrill Lynch; iPhone 8 Will be 'Super-Long' Cycle
- Morgan Stanley Upgrades Tesla Motors (TSLA) to Overweight
- CP's (CP) Outgoing CEO Hunter Harrison, Activist Paul Hilal Said Set to Target CSX Corp. (CSX)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Alon Blue Square Israel Ltd. (OTC: BSIRY) announced that on August 28, 2016, the District Court in Lod, Israel gave its final approval for the proposed debt arrangement between the Company and its financial creditors and shareholders under Section 350 of the Israeli Companies Law, 5759-1999, as revised per our announcement on August 10, 2016.
In accordance with the District Court's final approval, the aggregate sum payable to the Company's minority shareholders upon closing will be NIS 6,328,500. The total amount of reward and/or legal fees payable to the representatives of the minority shareholders in court who submitted the class action and the opposition on behalf of the minority shareholders, and legal expenses for two minority shareholders who opposed the debt arrangement, will be NIS 546,500.
The Company will provide an updated timeline for closing accordingly.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Sallie Mae (SLM) Issues Statement on CFPB Complaint
- Horizon Technology Finance (HRZN) Names Daniel Trolio as CFO
- Cullen/Frost Bankers (CFR) Announces Jack Wood and Royce Caldwell to Leave Board of Directors
Create E-mail Alert Related CategoriesCorporate News, Litigation
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!