Office Depot may sell Israeli operations

Office Depot announced late Tuesday it is in negotiations to sell its 46 stores in Israel to department store operator New Hamashbir Lazarchan Ltd. for $47 million. The amount is minus the outstanding debt at time of closing, and the subsequent licensing of trade names and intellectual property rights, said Boca Raton-based Office Depot (NYSE: ODP). New Hamashbir Lazarchan trades on the stock exchange in Tel Aviv under the symbol MSBZ.