Article: British-Israel to buy third of IKEA Rishon LeZion project: The company has bought 73% of Ra'anana's Millennium House for NIS 130 million.

Byline: Ilanit Hayut and Tal Hazan

Jul. 12--Sources inform "Globes" that British-Israel Investments Ltd. (TASE: BRTS) will buy one-third of the IKEA Israel project in Rishon LeZion when the legal hearings on the project are over. The company will exercise its option from Iris Hagilboa Construction and Development Ltd., which owns the land rights of the Me'uyan Soreq site where the IKEA store will be built. British-Israel can increase its option to 43.33 percent. Bronfman Fisher Investments Inc. owns IKEA Israel.

IKEA Israel chairman Ron Hadassi said that NIS 300 million had already been spent in developing the site, not including investment in the ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!