Plaza Centers N.V. UPDATE RE TERM SHEET-SALE OF PLOT - CHENNAI, INDIA (0392N)
January 14 2019 - 8:40AM
UK Regulatory
TIDMPLAZ
RNS Number : 0392N
Plaza Centers N.V.
14 January 2019
January 14, 2019
PLAZA CENTERS N.V.
UPDATE REGARDING THE TERM SHEET FOR THE SALE OF THE PLOT IN
CHENNAI, INDIA
Plaza Centers N.V. ("Plaza" or the "Company") announces today,
further to its press releases dated October 18, 2018, November 7,
2018, December 4, 2018, and January 7, 2019 regarding a term sheet
between Elbit Plaza India Real Estate Holdings Limited (a
subsidiary held by the Company (50%) and Elbit imaging Ltd. (50%))
("EPI") and a potential buyer (the "Purchaser") for the sale of a
74.7 acre plot in Chennai, India for a total consideration of
approximately Euro 13.2 million, that EPI has granted the Purchaser
until mid-February 2019, to complete the transaction. If the
Purchaser defaults to do so, the Joint Development Agreement (JDA)
and the Term Sheet between the parties shall be terminated, and
accordingly, EPI will consider the different options available to
it.
Ends
For further details, please contact:
Plaza
Avi Hakhamov, Acting CEO +36 1 6104523
Notes to Editors
Plaza Centers N.V. (www.plazacenters.com) is listed on the Main
Board of the London Stock Exchange, as of 19 October 2007, on the
Warsaw Stock Exchange (LSE: "PLAZ", WSE: "PLZ/PLAZACNTR") and, on
the Tel Aviv Stock Exchange. Plaza Centers has been active in real
estate development in emerging markets for over 23 years.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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