logo
Share SHARE
FONT-SIZE Plus   Neg

Elbit Imaging Executes Definitive Deal With Bank Hapoalim - Quick Facts

Elbit Imaging Ltd. (EMITF), an Israel-based holding company engaged in the real estate development & operations, announced Monday that it has entered into a definitive agreement with Israel-based financial group Bank Hapoalim B.M. (BKHYY.PK) on the basis of the general terms of agreement that were approved by the company's unsecured financial creditors.

The agreement follows the receipt of the requisite approval from its unsecured financial creditors.

Consequently, the condition precedent included in the adjusted plan of arrangement, pursuant to which an understanding will have been reached between the Company and the Bank, was fulfilled, the company noted.

The closing of the definitive deal is subject to certain other conditions precedent, including the approval of the arrangement by the Tel-Aviv Jaffa District Court, the closing of the arrangement and such other customary conditions precedent.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Bank of Nova Scotia or otherwise known as Scotiabank, Friday reported lower net profit for the third quarter, in the absence of a year-ago gain. Earnings per share, however, came in line with the Street view. Further, the company said it raised its quarterly dividend by 2 cents. Non-traditional discount and variety stores operator Big Lots Inc. (BIG) Friday reported a decline in net profit for the second quarter, while net sales grew 1.2 percent from the prior year. Comparable sales for the quarter increased 2.8 percent. Google has rejected the European Union's charges that it abused its market power and the demanded that it change the way it ranks online comparison shopping services in its search results, setting up a potentially long legal battle with the EU regulator empowered to levy billions of euros in fines
comments powered by Disqus
Follow RTT