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Article: Elbit Imaging Ltd. Announces the Termination of the Joint Venture With Clal Insurance Enterprises Holdings ltd., Regarding Joint Activity in Romania and Certain Other Eastern Europe Countries.
- Article from:
- PR Newswire
- Article date:
- February 3, 2009
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TEL AVIV, Israel, February 3 /PRNewswire-FirstCall/ -- Elbit Imaging Ltd. (the "Company") , announced that the joint venture agreement with Clal Insurance Enterprises Holdings Ltd. ("Clal") dated June 30, 2008 (as amended), with respect to the establishment of a joint activity in the insurance business in certain Eastern Europe countries (the "JV Agreement"), has been terminated as a result of the non- occurrence of the closing of the transaction within the scheduled timeframe set out in the JV Agreement, which term has elapsed without obtaining the mandatory regulatory approvals that were required as a pre-condition to the consummation of the transaction, and after the ...