Elbit Imaging Heads for Biggest Two-Month Rally on Assets Sale
Elbit Imaging Ltd. (EMIT) headed for the biggest gain in almost two months after the Israeli real estate company closed the sale of U.S. shopping centers for $1.4 billion.
The sale of the properties was to Blackstone Group LP and DDR Corp. (DDR), Elbit said in a PR Newswire statement today. “The closing of this transaction generated significant cash-flow and profit for the company, over an investment period of two years only,” co-Chief Executive Officer Dudi Machluf said in the statement.
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