logo
Share SHARE
FONT-SIZE Plus   Neg

Elbit Imaging Executes Definitive Deal With Bank Hapoalim - Quick Facts

Elbit Imaging Ltd. (EMITF: Quote), 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
US Steel Corp. (X) Tuesday said it will "adjust operations" and temporarily idle a part of its Minntac plant in Mt. Iron, Minnesota, effective June 1. According to reports, the move would see about 700 employees laid off. The company said the decision was due to its current inventory levels and ongoing... Hewlett-Packard Co. (HPQ) has filed a lawsuit against Michael Lynch, the co-founder of Autonomy Corp., and its former Financial Chief Sushovan Hussain for a whopping $5.1 billion alleging that the executives misrepresented the financial situation of Autonomy. An HP's spokeswoman confirmed that the... Nine acres of green grass with 400 trees and a half-mile-long walk way. We are not talking about any park, but the expansive rooftop of Facebook's new office. The 430,000 square feet office is a single room and it might be the largest open floor plan in the world.
comments powered by Disqus
Follow RTT