Business in Brief

Ex-Supersol CEO sentenced to prison for antitrust violations, Matomy to go public at 227 pence in London, Golf/Kitan merger delayed by regulators, Europe approves Teva contraceptive.

Ofer Vaknin

Ex-Supersol CEO sentenced to prison for antitrust violations

Effie Rosenhaus, who was CEO of Supersol for eight years, was sentenced on Sunday to two months in prison, and two and a half months of community service for antitrust offenses and violating the terms of the supermarket chain’s 2005 merger with rival Clubmarket. The Jerusalem District Court also fined Rosenhaus 450,000 shekels ($132,000) and barred him from serving as a company director for three years. Former VP Marketing Eli Gidor was sentenced to a month in prison and a 250,000-shekel fine in the same case. Supersol was fined 3 million shekels. Rosenhaus and Gidor were convicted in December for, among other things, trying to block sales promotions at rival supermarket chain Mega. Both men’s attorneys said they would appeal the sentences. (Ora Coren)

Matomy to go public at 227 pence in London

Matomy, the digital advertising company, is planning to offer $75 million in new shares in London, at a fixed price of 227 pence ($3.90) each, sources in the advertising industry said on Sunday. That gives the company a market value of around 275 million pounds, compared to the range of 284 million pounds to 346 million pounds it had aimed for initially. Nevertheless, the company plans to go ahead with the initial public offering within days, the sources said, with the aim of raising $75 million instead of the $100 million it had originally planned. Matomy pulled its original IPO in April and changed underwriters for a second attempt. (Dror Reich and Michael Rochvarger)

Golf, Kitan merger delayed by regulators

A merger between the clothing, bedding and housewares companies Golf and Kitan hit the rocks on Sunday after the Israel Securities Authority instructed publicly traded Golf to provide more information to minority shareholders before they vote on the measure. The merger, which is being engineered by Clal Industries, the conglomerate owned by U.S. entrepreneur Len Blavatnik that controls both companies, calls for Golf to buy the operations of financially struggling Kitan for 11 million shekels ($3.2 million). Golf would put Kitan’s retail operations under Golf’s Golf & Company bedding and housewares brand, and merge their headquarters and design staffs while keeping Kitan’s Esprit brand abroad as a separate operation in an effort to boost profitability for both. Golf rose 0.8% to close at 11.73 shekels in Tel Aviv. (Eran Azran)

Europe approves Teva contraceptive

The European Medicines Agency’s Committee for Medicinal Products for Human Use has issued a positive opinion of Teva Pharmaceuticals’ oral contraceptive, Seasonique, the drug maker said over the weekend. The committee concluded that the pill’s benefits outweigh its risks, thereby clearing the way for approval by local health authorities of the European Union countries, Teva said. It plans to launch the product, which reduces the number of periods for a woman taking it, in selected countries by the end of 2014. The pill has been available in the United States since 2006, where it gained 25% share of the market. Shares of Teva finished up 0.5% at 186.60 shekels ($54.58) on Sunday in Tel Aviv. (Yoram Gabison)

Shares end mixed in very thin trading

Tel Aviv shares ended mixed in unusually thin turnover of just 392 million shekels ($114.7 million) Sunday as traders were distracted by continued security tensions at home and the absence of any signals from Wall Street due to the July 4 weekend in the United States. The benchmark TA-25 index finished unchanged at 1,391.90 points while the TA-100 edged down 0.07% to 1,259.28. “Investors are waiting for security developments. The feeling is that if the situation clams, the local stock market will join the global rally,” said Amit Rosenzweig of Halman Aldubi. Perrigo led the most active stocks, advancing 2.4% to close at 526.40 shekels, but for most biomed stocks the day was a downer. Protlix dropped 2.9% to finish at 11.65 shekels, Mazor Robotics lost 2.6% to 27.11 and Compugen 2% to 31.17. (Dror Reich