On Thursday, Burger Ranch made the highest bid for Burger King’s Israel operations.
Burger King announced today that it would petition the Tel Aviv District Court to disqualify Burger Ranch’s bid for Burger King’s Israel operations. Burger Ranch submitted the highest bid for the franchise on Thursday.
Burger Kind said Burger Ranch’s bid had ulterior motives to block free competition in the sector, and the Antitrust Authority would probably not approve the bid.
Sources in Orgad, which submitted the second-highest bid, alleged today that Burger Ranch, controlled by Zadik Bino’s Paz Oil Company, collaborated with Bank Hapoalim (LSE:BKHD; TASE:POLI), Burger King Israel’s largest creditor. Burger King Israel trustee Adv. Doron Tischmann said in response that the bidding process was legal.
Burger Ranch declined to comment.
Published by Globes [online] - www.globes.co.il - on June 22, 2003