Yochananof was represented by Hamburger Evron & Co. Law Firm, while Meir Hoefler Law Firm advised Zol Stock.
Yochananofcontrol acquired a 50.1% of the Zol Stock chain for NIS 45 million, based on a valuation of NIS 90 million. Yochananof intends to conduct an IPO for the company based on a valuation of NIS 300 million.
The acquisition of control of Zol Stock will be conducted by purchasing shares that constitute some 50.1% of the two private companies that coordinate the Zol Stock activity: B.A. Zol Stock Distribution Ltd., which operates as the import and distribution arm of Zol Stock and V. Talia Import and Marketing Ltd., which controls and operates the store chains subsidiaries or franchises. Yochananof will purchase the shares from the four existing Zol Stock shareholders (not in equal stakes), so that after the acquisition, the Group’s shareholders will be Yochananof (50.1%), Adir (30%) and Sahar (19.9%).
Zol Stock operates in the field of household products and other products at discount prices.
The Hamburger Evron & Co. team was led by Adv. Amnon Sorek (Picture).
The Meir Hoefler team was led by Itai Hoefler.