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Elbit Imaging-M Ltd. M&A Activity 2019
6760_rns_2019-04-01_29a7bc4d-5733-4861-95ac-09621e8ac208.pdf
M&A Activity
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ELBIT IMAGING ANNOUNCES UPDATE REGARDING THE AGREEMENT TO SELL ITS PROJECT IN KOCHI, INDIA
Tel Aviv, Israel, April 1, 2019, Elbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ: EMITF) announced today, further to its press release dated January 8,2019, that the Company has sold 50% of its stake in the SPVwhich holds a land plot in Kochi, India and received USD 0.72 million, i.e., 50% out of the total consideration of USD 1.4 million.. The remaining 50% will be paid to the Company in Q1 of 2020.
About Elbit Imaging Ltd.
Elbit Imaging Ltd. operates in the following principal fields of business: (i) medical industries through our indirect holdings in Insightec Ltd. and Gamida Cell Ltd.; (ii) land in India which is designated for sale (and which was initially designated for residential projects).
For Further Information: Company Contact Ron Hadassi CEO and Chairman of the Board of Directors Tel: +972-3-608-6048 Fax: +972-3-608-6050 [email protected]