The Company released a material fact regarding the stake of Discount Corporation Ltd. (“DIC”), 83.7% controlled by IRSA, in Shufersal.
To announce that on July 22, 2020 DIC has accepted the purchase offer made by private investors of its total stake in Shufersal, representative of 26% of its share capital, for an amount of NIS 1,456 million (NIS/share 23.5). As a result of this transaction, DIC completes Shufersal’ s sale process.
The accounting result of this operation in IRSA, of approximately ARS 1,480 million (considering the book value of Shufersal as of March 31, 2020), will be recognized in the Company’s Financial Statements of the first quarter of Fiscal Year 2021.
Shufersal (TASE: SAE) is Israel’s leading supermarket company operating a total of 377 stores in the country.