December 25, 2017 / 8:04 AM / 10 months ago

Israel's Discount Investment cuts Shufersal stake to 50 pct

TEL AVIV, Dec 25 (Reuters) - Discount Investment Corp said on Monday it lowered its stake in Shufersal , Israel’s biggest supermarket chain, to 50.12 percent from 53.3 percent, selling shares for 169.5 million shekels ($49 million).

As a result, Discount said, it will post an increase in shareholders capital of 85 million shekels in the fourth quarter. ($1 = 3.4826 shekels) (Reporting by Tova Cohen, Editing by Ari Rabinovitch)

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