Bloomberg News

Elbit Imaging Rises to Month-High on Romania Hotel Refinance

October 03, 2011

(Updates with closing share price in second paragraph.)

Oct. 3 (Bloomberg) -- Elbit Imaging Ltd. rose to the highest in almost a month after a unit of the investor in real estate and medical companies completed a 71.5 million-euro ($96 million) refinancing of its Radisson Blu Hotel in Bucharest.

The shares climbed 5.7 percent to 9.126 shekels at the 4:30 p.m. close in Tel Aviv, the highest level since Sept. 5. The stock has declined 81 percent this year, giving the Tel Aviv- based company a market value of 233 million shekels ($62 million).

--Editors: Shanthy Nambiar, Peter Branton

To contact the reporter on this story: Susan Lerner in Jerusalem at slerner2@bloomberg.net

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


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