The company will report a pretax profit of NIS 26 million on the sale of properties in France and Hungary.
Electra Real Estate Ltd. (TASE:ELCRE) will sell its 42.5% stake in two logistics centers in Hungary and France, leased to Renault (Paris:RENA), for NIS 157 million. The company will report a pretax capital gain of NIS 26 million on the sale.
Electra Real Estate has a net cash flow surplus of NIS 35 million after repaying the loans and expenses for the properties. The sale is expected to be closed by the end of the year.
Published by Globes [online], Israel business news - www.globes.co.il - on November 13, 2006
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