TEL AVIV, Israel, September 29, 2015 /PRNewswire/ --
Elbit Imaging Ltd. ("EI" or the
"Company") (TASE, NASDAQ: EMITF)
announced today that Plaza Centers N.V. ("Plaza")
(LSE:PLAZ) an indirect subsidiary of the Company, has
announced that its wholly owned subsidiary has won a tender to buy
the loan in respect of the Liberec Plaza commercial centre in the
Czech Republic.
The €20.4 million bank loan was granted by two commercial banks
which Plaza has agreed to buy for €8.5 million, reflecting a
discount of 58%. The closing of the transaction is subject to the
approval of the Hungarian National Bank (as one of the lending
banks is Hungarian) which is expected to be received by the end of
October 2015.
Plaza expects to record a profit from this transaction of
approximately €12 million in its financial statements for the
second half of 2015. Plaza expects that the mall will deliver a net
operating income of approximately €850,000 in 2015, which would
reflect a yield of approximately 10% on the loan purchase
price.
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 and in India. 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.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
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," "would,"
"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, 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.