Ocif owns 30% of MO Plovdiv and Rilon owns 10%.
Ocif Investments and Development Ltd. (TASE: OCIF) and Rilon Ltd. (TASE:RLN) have sold their holdings in a Bulgarian company, MO Plovdiv, to international private equity funds at a value of €58 million. Ocif owns 30% of MO Plovdiv, which owns a mall in the city of Plovdiv, and Rilon owns 10%.
The sale will be made in two installments, with the buyers acquiring half of Ocif and Rilon’s stakes at a value of €27.6 million. Ocif will receive €8.3 million and Rilon will receive €2.8 million. The second installment is due to be made at a value of €30.4 million; Ocif will receive €9.1 million and Rilon will receive €3 million.
Published by Globes [online], Israel business news - www.globes.co.il - on July 1, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007