TEL AVIV, Israel, December 15, 2015 /PRNewswire/ --
Elbit Imaging Ltd. (the
"Company") (TASE, NASDAQ: EMITF)
announced today, that its 98% holding subsidiary, S.C. Bucuresti
Turism S.A. ("BUTU") and its indirect subsidiary,
Plaza Centers N.V. ("Plaza") (LSE:PLAZ), have signed a
transaction for the sale of the Cina property in Bucharest.
The expected total consideration is €4 million, divided to €2.7
million for Plaza and €1.3 million for BUTU. The expected net
proceeds, after related taxes and transaction costs, is
approximately €2.26 million for Plaza and approximately €1.3
million for BUTU.
About Elbit Imaging Ltd.
Elbit Imaging Ltd. operates in the following principal fields of
business: (i) Commercial centers - initiation, construction, and
sale of commercial centers and other mixed-use property projects,
predominantly in the retail sector, located in Central and
Eastern Europe. In certain
circumstances and depending on market conditions, the Group
operates and manages commercial centers prior to their sale. (ii)
Hotels - hotels operation and management. (iii) Medical
industries and devices - (a) research and development, production
and marketing of magnetic resonance imaging guided focused
ultrasound treatment equipment, and (b) development of stem cell
population expansion technologies and stem cell therapy products
for transplantation and regenerative medicine. (iv) Residential
projects - initiation, construction and sale of residential units
or plots designated for residential located primarily in
India.
Any forward-looking statements in our releases include
statements regarding the intent, belief or current expectations of
Elbit Imaging Ltd. and our management about our business, financial
condition, results of operations, and its relationship with its
employees and the condition of our properties. Words such as
"believe," "expect,"
"intend," "estimate"
and similar expressions are intended to identify forward-looking
statements but are not the exclusive means of identifying such
statements. Actual results may differ materially from those
projected, expressed or implied in the forward-looking statements
as a result of various factors including, without limitation, a
change in market conditions, a decision to deploy the cash for
other business opportunities and the factors set forth in our
filings with the Securities and Exchange Commission including,
without limitation, Item 3.D of our annual report on Form 20-F for
the fiscal year ended December 31,
2014, under the caption "Risk
Factors." Any forward-looking statements contained in
our releases speak only as of the date of such release, and we
caution existing and prospective investors not to place
undue reliance on such statements. Such forward-looking statements
do not purport to be predictions of future events or circumstances,
and therefore, there can be no assurance that any forward-looking
statement contained our releases will prove to be accurate. We
undertake no obligation to update or revise any forward-looking
statements.
For Further Information:
Company Contact
Ron Hadassi
Chairman of the Board of Directors
Tel: +972-3-608-6048
Fax: +972-3-608-6050
ron@elbitimaging.com
SOURCE Elbit Imaging Ltd.