Blue Square-Israel (BSI) Announces Change in Holdings in its Controlling Shareholder and Change in Directors
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Blue Square-Israel Ltd. (NYSE: BSI) was informed by its controlling shareholder, Alon Israel Oil Company Ltd. ("Alon") that the transaction between the controlling shareholders of Alon as announced on Septemper 14, 2009 was completed and Africa Israel Trade and Agencies Ltd. ("Africa") transferred its holdings in Alon (ordinary shares equal to 26.14% of Alon`s issued share capital) to Alon.
As a result of the completion of said transaction, the holdings in Alon (offsetting the dormant shares which shall be in the possession of Alon) are as follows:
Bielsol Investmens (1987) Ltd (The Biran family and Mr. Wiessman) ("Bielsol") approximately 53.1%.
Collective acquisition economic entities of Kibbutzim in Israel, (Established by the Kibbutz Organizations): approximately 46.9%.
As part of the completion of the transaction, Mr. Nadav Grinshpon and Mr. Ron Fainero resigned from their position as directors in Blue Square's Board of Directors.
Mr. Grinshpon served as a director since January 2008 and Mr. Fainero served as a director since November 2007.[SM]
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