The company and a partner are negotiating to by up to half of a Moscow property for $300 million.
Financial Levers Ltd. (TASE:LVR) and an Israeli partner are negotiating to buy up to half of a Moscow property for $300 million. The lot is zoned for 50,000 sq.m. of office space, and a 200-room 14,500-sq.m. hotel. The company said there was no assurance that the negotiations would result in a binding contract.
Today’s announcement came one day after Financial Levers cancelled plans to acquire the Sharon Mall in Netanya from Alrov Properties and Lodgings Ltd. (TASE: ALRPR). Alrov has instead sold the mall to British-Israel Investments Ltd. (TASE: BRTS) for NIS 344 million.
Published by Globes [online], Israel business news - www.globes.co.il - on June 28, 2007
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