Sources inform ''Globes'' that Delek Real Estate Ltd. (TASE: DLKR) subsidiary Delek Real Estate Income Producing Properties Ltd. is in advanced negotiations to sell the My Center Mall in Carmiel to Alony Hetz Property and Investments Ltd. (TASE: ALHE) subsidiary Amot Investments Ltd. (TASE:AMOT) for NIS 55 million.
Yitzhak Tshuva controls Delek Real Estate through Delek Group Ltd. (TASE: DLEKG). Delek Real Estate owns 80% of Delek Real Estate Income Producing Properties, and Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) owns the rest. The mall was originally included in Delek Real Estate's buyout of Migdal's stake in the company, a deal that was never consummated.
The My Center sale is just the latest property sale by Delek Real Estate, coming on top of the sale of three properties in Tel Aviv to Migdal in September, the sale of a lot in Netanya's Poleg Industrial Zone, and the sale of an office building in Stockholm. The company has netted NIS 372.1 million on the sales to date.
Delek Real Estate was unavailable for comment. Amot declined to comment, saying only, "The deal has not yet been closed, and the amount mentioned is completely incorrect in any case."
Published by Globes [online], Israel business news - www.globes-online.com - on February 25, 2009
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