Paz Withdraws from Race to Acquire Wolt Market

In depth

According to Israel Hayom, Wolt is forced to sell its market operations due to a decision by the Competition Commissioner. According to Ice, against the background of disputes over the deal terms and heavy losses, there is concern that the operation could not be made profitable.

Wolt Market operates about 29 branches across the country, with annual revenues of more than 650 million shekels and losses of about 50 million shekels a year, according to Globes. Three groups remain in the race, and the frontrunner is the group of Tor Rosenberg and Gabi Trabelsi, which is advancing in talks, according to Bizportal. The original target date for closing the deal has already passed.