Bloomberg News

Elbit Imaging Surges on Report Owner Signs Debt Accord With Bank

July 05, 2012

Elbit Imaging Ltd. (EMIT) advanced the most in almost six months after TheMarker reported that the owner of the Israeli real-estate company has signed a debt accord with Bank Hapoalim Ltd. (POLI)

The shares surged 16 percent, the most since Jan. 11, to 9.8 shekels at the 4:30 p.m. close in Tel Aviv, bringing the company’s market value to 244 million shekels ($62 million). The benchmark TA-25 index advanced 0.4 percent.

Europe Israel Ltd., the controlling shareholder of Elbit, signed a debt arrangement with Hapoalim, TheMarker reported on its website today, without saying where it got the information. Ofra Preuss, a spokeswoman for Hapoalim declined to comment. Motti Scherf, a spokesman for Elbit President Mordechay Zisser declined to comment.

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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