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Stock Market & Financial Investment News

News Breaks
June 26, 2014
07:40 EDTEMITFElbit Imaging subsidiary's debt restructuring plan approved by creditors
Elbit Imaging subsidiary Plaza Centers' amended restructuring plan has been approved with 92% of creditors voting in favour of the Plan. In light of the consent of creditors, the District Court of Amsterdam has scheduled a hearing to confirm the Plan on July 8.
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October 12, 2014
12:19 EDTEMITFElbit Imaging begins negotiations for sale of operation of Mango retail stores
Elbit Imaging announced that following its previous announcement dated September 29, that its subsidiary Elbit Fashion received from PUNTO FA, S.L written notice of its intention not to extend the term of the franchise rights of Elbit Fashion for operation of the "Mango" retail stores in Israel, that Elbit Fashion and the company are negotiating with Fox-Wisel and Punto the purchase of the operation of the Mango retail stores by Fox-Wisel. The consideration expected under the Transaction is estimated at approximately NIS 28M in addition to the price of Elbit Fashion's inventory that will be transferred to Fox-Wisel. The negotiations are expected to be consummated at the end of November.The closing of the transaction will be conditioned upon the approval of the Israeli Antitrust Authority as well as the satisfaction of certain conditions precedent as shall be set forth in the definitive agreements.

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