Israeli businessman Yitzchak Mirilashvili has taken a 19.9% stake in the Israeli franchise of Dutch retail giant SPAR, sources close to the matter have said. Mirilashvili reached an agreement with majority shareholder Amit Zeev, even before yesterday’s announcement by Israel’s largest supermarket chain Shufersal Ltd. (TASE:SAE) that it would not take up the option for its 19.9% stake, because of restrictions placed on it by the Israel Competition Authority. Zeev holds 80% of the SPAR Israel franchise but is in talks with other potential partners.
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Mirilashvili controls Channel 14 and Rotshtein Real Estate and is also a partner in the Telem supermarket chain, which has five branches in the Sharon region.
SPAR Israel is due to open its first branch in Israel in Kfar Saba in early 2024.
Published by Globes, Israel business news – en.globes.co.il – on September 29, 2023.
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