Competition Authority Clears Ronen Ganon’s NIS 173 Million Multi Retail Takeover

Israel's Competition Authority approved Ronen Ganon and Ganon Group's purchase of 72.3% of publicly traded Multi Retail for about NIS 173 million. The approval clears a condition for the acquisition, which values Multi Retail at roughly NIS 240 million and is now expected to close. Multi Retail operates 54 branches through the ACE, Auto Depot, Beitili and Urban brands, as well as ACE's online business. Kedma Capital is selling roughly 70% for NIS 168 million, while chief executive Itzik Uzana is selling his stake for about NIS 5.5 million.