Business
Offer for EDT
Offer for EDT.
About this update from Plaza Centers N.v.
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 7070C Plaza Centers N.V. 10 March 2011 \n \n\n10 March 2011\n \nPLAZA'S US JOINT VENTURE ANNOUNCES OFF-MARKET TAKEOVER BID FOR EDT\n \nPlaza Centers N.V. (\"Plaza\" or the \"Company\"), a leading property developer and investor with operations in Central and Eastern Europe, India and the USA, announces that its joint US subsidiary, EPN GP, LLC (\"EPN\") has today made an off-market takeover bid to acquire all of the outstanding units of EDT Retail Trust (\"EDT\").\n \nEPN's unconditional offer is to buy all outstanding units of EDT that EPN's affiliate does not already own (approximately 52%), for AUS$ 0.078 cash per EDT unit. The total consideration, which will be paid by EPN, assuming full take up of EDT units, is approximately US$ 190 million. \n \nPlaza and Elbit Imaging Ltd. (NASDAQ: EMITF), through a 50:50 jointly controlled entity, has a circa 43% stake in EPN GP LLC, which holds as of today approximately a 48% stake in EDT. EPN is required to send its offers to EDT unit holders within two months after the date of this announcement. EPN has not yet determined the date on which its offers will be sent.\n \nPlaza\nMordechay Zisser, Chairman +972 3 6086000\nRan Shtarkman, President and CEO +36 1 462 7221\nRoy Linden, CFO ...