Terminal X Cancels 11 Million Shekel Acquisition of Soho Retail Chain
Terminal X has cancelled its 11 million shekel deal to acquire a controlling stake in the Soho retail chain following unresolvable gaps during negotiations.
Terminal X has officially called off its planned acquisition of the Soho lifestyle and design retail chain. Just three weeks after signing a memorandum of understanding, the subsidiary of Fox Group announced that negotiations have collapsed due to insurmountable gaps between the parties.
Terminal X cancelled the 11 million shekel deal to acquire a 50.01% controlling stake in Soho, which was originally slated to include 8 million shekels dedicated to debt repayment. The transaction had been subject to due diligence and various closing conditions, including future options for purchasing additional shares through 2031.
Founded in 2004, Soho operates 12 branches and employs approximately 100 workers, specializing in design products and lifestyle goods from local and international brands. Founder and CEO Etzion Wallach was expected to retain his leadership role, but both sides ultimately agreed to walk away from the table.