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Stock Market & Financial Investment News

News Breaks
June 29, 2014
12:42 EDTEMITFElbit Imaging announces agreement for investment in InSightec
Elbit Imaging announced that InSightec has entered into a Series D Preferred Share Purchase Agreement with York Global Finance II S.a r.l., an affiliate of York Capital Management, pursuant to which the Investor and certain Subsequent Investors, shall invest between $50M and $62.5M in InSightec. The company holds approximately 90% of the share capital of Elbit Medical Technologies which, in turn, holds approximately 48.2% of the share capital in InSightec. As part of the transaction, Elbit Medical and other current shareholders of InSightec have agreed to amend the Securityholders Agreement among them.
News For EMITF From The Last 14 Days
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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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