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Article: Africa Israel sells Prague mall stake
- Article from:
- Jerusalem Post
- Article date:
- December 6, 2004
- Author:
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ZEV STUB
Jerusalem Post
12-06-2004
Headline: Africa Israel sells Prague mall stake
Byline: ZEV STUB
Edition; Daily
Section: Economics
Page: 15
Monday, December 6, 2004 -- Africa Israel Investments said Sunday it signed an agreement to sell half of its shares of a mall it developed in Prague for 23 million.
The stake in the Flora Palace Mall was acquired by Quinlan, a private investment group from Ireland, the company said. Africa Israel, which is controlled by Lev Leviev, will retain the remaining 50 percent interest in the year-old mall, and continue managing it.
The sale price reflected a 120m. valuation for the mall, after deducting 74m. in existing debts, the company said. In tandem with ...