Elbit Imaging Advances Most in Week on Hotels Sale Accord

Elbit Imaging Ltd. (EMIT) advanced the most in almost a week after the real estate investor said it will post a gain of about 180 million shekels ($48.5 million) from the sale of four hotels in the Netherlands.

The shares advanced 6.2 percent, the most since March 26, to 10.16 shekels at 10:41 in Tel Aviv, giving the company a market value of 254 million shekels.

Elbit Imaging said a unit has entered into an agreement to sell a stake in four hotels in the Netherlands to PPHE Hotel Group Ltd.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.