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July 1, 2014
05:40 EDTEMITFElbit Imaging announces settlement agreement with Bank Leumi
Elbit Imaging announced today, following its announcement dated February 20, that the company and Bank Leumi Le Israel B.M. have reached an agreement on the terms of a proposed settlement of the parties' disputes with respect to the company's debt to Bank Leumi. The consummation of the Settlement is subject to the approval of the Tel-Aviv District Court. Under the Settlement, Bank Leumi would receive ownership of all marketable securities held in the company's accounts at Bank Leumi and will offset the fair value of such securities against the company's debt. In addition, the ordinary shares and notes deposited in trust for the benefit of Bank Leumi pursuant to the company's debt restructuring as detailed in the Previous Announcement would be transferred to Bank Leumi, after deduction of such amount of ordinary shares and notes equal in value to the Offset Amount. The Settlement would constitute the full settlement of the company's obligations to Bank Leumi under the Debt Restructuring as well as the loan agreement entered between the parties on May 5, 2011, and Bank Leumi would release any lien registered for its benefit on the company's assets. The Settlement also includes a mutual waiver of claims. The balance of the ordinary shares and notes retained in trust will be cancelled.
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May 13, 2015
05:32 EDTEMITFElbit Imaging subsidiary agrees to sell Indian shopping mall
Elbit Imaging announced that its 44.9% owned subsidiary, Plaza Centers N.V., announced that it has reached an agreement to sell Koregaon Park Plaza, the retail, entertainment and office scheme located in Pune, India for approximately EUR 35M, consistent with the asset's last reported book value. The net cash proceeds from the sale will be EUR 7.2M. The transaction is subject to the satisfaction of certain closing conditions which are expected to be fulfilled within one month.
May 10, 2015
19:50 EDTEMITFElbit Imaging sells Belgian hotels for EUR27M net
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