Bloomberg News

Elbit Imaging Advances Most in Week on Hotels Sale Accord

April 01, 2012

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


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