Plaza Centers N.V. UPDATE RE TRANSACTION SALE OF PLOT CHENNAI, INDIA (6599P)
February 11 2019 - 8:30AM
UK Regulatory
TIDMPLAZ
RNS Number : 6599P
Plaza Centers N.V.
11 February 2019
February 11, 2019
PLAZA CENTERS N.V.
UPDATE REGARDING THE TRANSACTION FOR THE SALE OF THE PLOT IN
CHENNAI, INDIA
Plaza Centers N.V. ("Plaza" or the "Company") announced today,
further to its press release dated October 18, 2018, November 7,
2018, December 4, 2018, January 7, 2019 and January 14, 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 the
Purchaser has defaulted to complete the transaction.
EPI has terminated the Joint Development Agreement and the Term
Sheet with the Purchaser.
Accordingly, EPI is considering all legal measures available to
it to protect its interest.
The Company will update regarding any new developments.
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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