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BRIEF-Alon Blue Square announces settlement agreement between Mega Retail trustees,Moti Ben Moshe controlled-company
May 26, 2016 / 5:16 PM / a year ago

BRIEF-Alon Blue Square announces settlement agreement between Mega Retail trustees,Moti Ben Moshe controlled-company

May 26 (Reuters) - Alon Blue Square Israel Ltd :

* Alon Blue Square announces settlement agreement between trustees of Mega Retail and a company under the control of Mr. Moti Ben Moshe

* Alon Blue Square announces settlement agreement between trustees of Mega Retail and a company under the control of Mr. Moti Ben Moshe

* Settlement agreement has been reached between trustees of mega retail and a company controlled by mr. Moti ben moshe

* Agreement generally provides for settlement of all lawsuits and claims between Mega Retail and company

* Parties also agreed to certain mutual waiver of claims against each other

* Company is reviewing terms of agreement

* Would pay outstanding debt owed by Mega to its bank lenders which company has guaranteed or indemnified about NIS 300 million

* Would also pay outstanding debt owed by Mega Retail to credit insurers of suppliers, about NIS 90 million Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)

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