(For more retail coverage, click GlobeSt.com/RETAIL.)
TEL AVIV-Israel Financial Levers Ltd. has agreed to acquire theArena shopping and entertainment center at the Herzlia Marina herefor $130 million. The 646,000-sf development is owned by ElscintLimited, a subsidiary of Elbit Medical Imaging Ltd. The transactionis scheduled to close within 90 days.
Israel Financial Levers is traded on the Tel Aviv StockExchange. Elbit Medical Imaging is traded on the Nasdaq. Theagreement calls for Israel Financial Levers to acquire the entireissued and paid up share capital of S.L.S. Sails Limited, theElscint subsidiary that owns and operates the shopping center. Theacquisition price could grow by $5 million subject to theattainment of certain conditions.
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