British-Israel buys Beersheva mall stake
The firm, instead of Melisron, will buy half of the planned project.
Michal Margalit31/01/2010
British-Israel Investments Ltd. (TASE: BRTS), controlled by Leo Noe, has signed a conditional MOU to buy half the rights of MLA Hanegev Entrepreneurs and Developers Ltd., which owns a 62-dunam (15.5-acre) lot in Beersheva zoned for a mall and office project, for NIS 155 million. British-Israel is stepping into the shoes of Ofer Holdings Group unit Melisron Ltd. (TASE: MLSR), which had been in talks last month to become a partner in the project.
British-Israel owns 17 malls across Israel. MLA owner Eli Lahav preferred British Israel because the company's business better reflected the spirit of the planned mall. Lahav noted, however, that he appreciated Melisron and its parent company Ofer Brothers Properties Ltd.
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| Tags: | approval, business, commercial, company, deal, malls, marketing, news, parking, rights, shoes, square, talks |
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