Plaza Centers N.V. UPDATE REGARDING SALE OF PROJECT BANGALORE INDIA (0863Y)
September 02 2022 - 3:21AM
UK Regulatory
TIDMPLAZ
RNS Number : 0863Y
Plaza Centers N.V.
02 September 2022
September 2, 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 announcement dated August 24, 2022 (the
"Previous Announcement" ), regarding the dispute 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 SPV which holds the site in
Bangalore, India (the " Asset "); that on September 1, 2022 the
transaction for the sale of EPI's whole rights in the Asset was
completed for a total of INR 117 crores (approximately EUR 14.3
million) and that EPI received the full consideration as
mentioned.
The total amount that the Company is expected to receive from
the transaction is about EUR 7.15 million and includes the
Company's share of the advances that the Purchaser has transferred
in the recent months.
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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September 02, 2022 03:21 ET (07:21 GMT)
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