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December 9, 2012
16:50 EDTGE, EMITFElbit Imaging announces the closing of GE's investment in InSightec
Elbit Imaging (EMITF) announced that on December 6, the closing of the transaction among Elbit Medical Technologies (in which the Company holds approximately 90% of the outstanding shares of stock), InSightec (in which Elbit Medical holds approximately 64% of the outstanding shares of stock, and 52.15% on a fully diluted basis), GE Healthcare (GE) and certain other shareholders of InSightec, which had been announced on October 11, had occurred. At the closing, the Parties have agreed to reduce the Other Investors' investment amount to $3.3M instead of $3.9M, and to set the expiration date for Elbit Medical's option to purchase Preferred C Shares of InSightec (directly or by a third party approved by GE) on December 25.
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April 14, 2014
11:54 EDTGEGE reports Omnyx gets FDA clearance for digital manual read of HER2 slides
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April 13, 2014
21:18 EDTEMITFElbit Imaging announces discussions for an investment in InSightec
Elbit Imaging announced that Elbit Medical Technologies, a subsidiary of the company in which it holds approximately 86% of the voting power, announced that on March 25, InSightec, in which Elbit Medical holds approximately 48.2% of the share capital, approximately 42.3% on a fully diluted basis, has notified Elbit Medical that the board of directors of InSightec has approved the terms of a certain non-binding draft term sheet with a third-party investor, which is not a current shareholder of InSightec, pertaining to an investment, pursuant to which the Investor shall invest in InSightec share capital. The proposed investment shall amount to few dozens of millions of US dollars, and will be based on a company valuation which is significantly higher than the company valuation set on the previous round of capital investment in InSightec; and on April 6, InSightec has notified Elbit Medical that the aforementioned non-binding term sheet was signed by it and the Investor. It shall be noted that no definitive agreement has been signed to date and there is no certainty that the negotiation of such non-binding term sheet will lead to the conclusion of a definitive agreement or that a transaction will be completed. The execution of a definitive agreement is subject to certain conditions precedent, including but not limited to, the approval of the authorized corporate organs of each of Elbit Medical, other shareholders of InSightec and the Investor.
April 10, 2014
09:03 EDTGEGE to provide grid modernization solutions to Furnas
GEís Digital Energy business is providing Furnas and Triangulo Mineiro Transmissora/Geoenergia with the latest in protection and control equipment to ensure performance and quality for each of the utilityís grid modernization projects. Furnas is one of the biggest utilities in Latin America and is responsible for power transmission in south, southeast and mid west Brazil. These projects, which support the modernization of Brazilís grid, mark GEís entry into Brazilís ANEEL transmission auctions. The auctions were won in December 2013 by TMT, a collaborative utility composed of Furnas and FIP Milao, with Furnas being the largest participant at 49%.
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