Plaza Centers N.V. UPDATE REGARDING SALE OF PROJECT BANGALORE INDIA (4329Q)
June 28 2022 - 2:43AM
UK Regulatory
TIDMPLAZ
RNS Number : 4329Q
Plaza Centers N.V.
28 June 2022
June 28, 2022
PLAZA CENTERS N.V.
UPDATE REGARDING SALE OF ITS HOLDINGS IN THE PROJECT IN
BANGALORE, INDIA
Plaza Centers N.V. (" Plaza " or the " Company ") announces
today, further to its announcements dated April 13, 2022, May 19,
2022 and June 14, 2022, regarding the emerging compromise between
Elbit Plaza India Real Estate Holdings Limited (a subsidiary held
equally by the Company (47.5%) and Elbit Imaging Ltd. (47.5%)) ("
EPI ") and a local investor (the " Purchaser ") which undertook to
purchase EPI's whole rights in the site in Bangalore, India (the "
Asset ") and the proposal from the Purchaser to purchase EPI's
whole rights in the Asset for a payment of INR 112 -117 crores
(approximately EUR 13.5-14.1 million), (of which he has transferred
so far INR 15 crores (approximately EUR 1.8 million)) ; The Company
updates that the Founder and CEO of the Purchaser has been arrested
by Indian law enforcement authorities on suspicion of money
laundering and this could adversely affect on the ability of the
Purchaser to complete the purchase of the property under such
conditions.
the Company will keep follow and update regarding further
developments as may be.
Ends
For further details, please contact:
Plaza
Ron Hadassi, Executive director; 972-526-076-236
Forward-looking statement
This press release may contain forward-looking statements with
respect to the completion of the transaction. Such statements are
based on current expectations, estimates and projections of Plaza
Centers N.V. and information currently available to the Company.
Plaza Centers N.V. cautions readers that such statements involve
certain risks and uncertainties that are difficult to predict and
therefore it should be understood that many factors can cause
actual performance and position to differ materially from these
statements.
Notes to Editors
Plaza Centers N.V. (www.plazacenters.com) is listed on the Main
Board of the London Stock Exchange, and, on the Warsaw Stock
Exchange (LSE: "PLAZ", WSE: "PLZ/PLAZACNTR") and, on the Tel Aviv
Stock Exchange("PLAZ").
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END
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June 28, 2022 02:43 ET (06:43 GMT)
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