Alon Blue Square Announces Approval By Alon Of Offer By Moti Ben-Moshe

(RTTNews) - Alon Blue Square Israel Ltd. (BSI) or the "Company" announced that it has been notified that Alon Israel Oil Company Ltd., the Company's controlling shareholder or Alon, has approved the offer of a company controlled by Mr. Moti Ben-Moshe to acquire Alon's approximate 72.71% direct and indirect interest in the Company.

The approval is subject to certain clarifications which have been accepted by Mr. Moti Ben-Moshe, including that the receipt of rights deriving from an approximately NIS 110 million loan that Alon granted to the Company includes assumption of an obligation to participate in any rights offering conducted by the Company in the same amount, and that the no-shop provision in the offer will apply mutually to both parties.