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 December 30, 2015 - 12:47 PM EST
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Alon Blue Square Israel Ltd. - Notice of Merger with Bee Group Retail Ltd.

YAKUM, Israel, December 30, 2015 /PRNewswire/ --

In accordance with Section 318(b) of the Israeli Companies Law, 5769-1999 (the "Companies Law") and Regulation 3 of the Israeli Companies Regulations (Merger), 5770-2000, Alon Blue Square Israel Ltd. (the "Company") hereby notifies its creditors, if any, that on December 24, 2015, the Company (as the acquiring company) filed a Merger Proposal with the Israeli Registrar of Companies relating to the Company's merger (the "Merger") with Bee Group Retail Ltd. (as the target company), a private Israeli company wholly-owned by the Company ("Bee Group"). The Merger Proposal may be reviewed by the Company's creditors at the offices of the Israeli Registrar of Companies, 39 Yirmiyahu Street, Building 1, Ha'Bira Towers, Jerusalem, Israel, and at the registered offices of the Company at Europark Yakum, France Building, Yakum, Israel, during acceptable business hours and upon prior coordination.

Forward-looking statements 

This press release contains forward-looking statements within the meaning of safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, plans or projections about our business, our future revenues, expenses and profitability. Forward-looking statements may be, but are not necessarily, identified by the use of forward-looking terminology such as "may," "anticipates," "estimates," "expects," "intends," "plans," "believes," and words and terms of similar substance. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events, results, performance, circumstance and achievements to be materially different from any future events, results, performance, circumstance and achievements expressed or implied by such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, the following: the uncertainty of the success of the plan of recovery and arrangement with debtors, suppliers, service providers and lessors; the effect of the plan of recovery and arrangement on sales in our supermarkets and on the desire of suppliers to continue supplying products or services to our supermarkets; failure to reach a settlement with our bank lenders and holders of our Series C Debentures; the economic conditions in Israel on the sales in our stores and of our products and on our profitability; our ability to compete effectively against low-priced supermarkets, large fuel companies and our other competitors; enactment of new laws and regulations, including the enactment of recommendations of governmental appointed committees and regulations with respect to the procurement of petroleum products by fuel companies and the price of petroleum products that are subject to regulation; quarterly fluctuations in our operating results that may cause volatility of our ADS and share price; fluctuations in the price of petroleum products and increases in excise tax rates imposed on the sale of petroleum products in Israel; risks associated with our dependence on a limited number of key suppliers for products that we sell in our stores; the effect of an increase in the minimum wage in Israel on our operating results; the effect of any actions taken by the Israeli Antitrust Authority on our ability to execute our business strategy and on our profitability; the effect of increases in oil, raw material and product prices in recent years; the effects of damage to our reputation or to the reputation of our store brands due to reports in the media or otherwise; government policies with respect to residential building may have a negative impact on our operations in residential building, and other risks, uncertainties and factors disclosed in our filings with the U.S. Securities and Exchange Commission (SEC), including, but not limited to, risks, uncertainties and factors identified under the heading "Risk Factors" in our annual report on Form 20-F for the year ended December 31, 2014. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except for our ongoing obligations to disclose material information under the applicable securities laws, we undertake no obligation to update the forward-looking information contained in this press release. 

Alon Blue Square Israel Ltd. (NYSE: BSI)


Elli Levinson-Sela,
General Counsel and Corporate Secretary
Tel.: +972-9-9618504

SOURCE Alon Blue Square Israel Ltd

Source: PR Newswire (December 30, 2015 - 12:47 PM EST)

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