Business
UPDATE RE AGREEMENT, SELL ITS HOLDINGS, BANGALORE
UPDATE RE AGREEMENT, SELL ITS HOLDINGS, BANGALORE.
About this update from Plaza Centers N.v.
[{"type":"text","content":"\n \nRNS Number : 4781T Plaza Centers N.V. 20 March 2019 \n\nMarch 20, 2019\nPLAZA CENTERS N.V.\n \nUPDATE REGARDING THE AGREEMENT TO SELL ITS HOLDINGS \nIN THE PROJECT IN BANGALORE, INDIA\n \nPlaza Centers N.V. (\"Plaza\" or the \"Company\") announced today, further to its press release dated March 7, 2019, regarding an agreement (the \"Agreement\") signed by Elbit Plaza India Real Estate Holdings Limited (a subsidiary held by the Company (50%) and Elbit Imaging Ltd. (50%)) (\"EPI\"), for the sale of a 100% interest in a Special Purpose Vehicle which holds a site in Bangalore, India, to a local investor (the \"Purchaser\") in consideration for approximately €44.5 million (INR 350 crores) (the \"Consideration\"), that the Purchaser has further paid approximately €0.63 million (Plaza part approximately € 0.31 million) this week, thereby having paid approximately €10.26 million (INR 80 crores) (Plaza part approximately € 5.13 million) as against approximately €11.8 million (INR 92 crores) that was supposed to be paid by end of February 2019.\n \nThe Parties continue to discuss regarding getting further payments. \n \nEnds\nFor further details, please contact:\n \n \nPlaza\nAvi Hakhamov, Acting CEO +36 1 6104523 \n \nForward-looking statements\n \nThis press release may contain forward-looking statements with respect to Plaza Centers N.V. future (financial) performance and position. Such statements are based on current expectations, estimates and projections of Plaza Centers N.V. and information currently available to the company. Plaza Centers N.V. cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. Plaza Centers N.V. has no obligation to update the statements contained in this press release, unless required by law.\n \n \nNotes to Editors...