Tel Aviv wholesale market sellers extend sale talks
The Soho consortium, led by Shikun u'Binui and EGRE, won the tender for the site earlier this month.
Michal Margalit28/01/2010
The Tel Aviv wholesale market lot is turning into a never-ending story. The sellers of the market have given the winner of the sale tender, the Soho consortium led by Shari Arison-controlled Shikun u'Binui Holdings Ltd. (TASE: SKBN) and Shaul Elovitch-controlled Eurocom Global Real Estate Ltd. (TASE: EGRE), a 14-day no-shop extension to close the deal. The no-shop exclusivity period expired today, but the parties agreed to extend the talks under the same procedures.
Sources close to the deal said that the parties agreed to the no-shop extension because progress had been made in the negotiations, and they decided to complete them. However, as "Globes" reported earlier this week, the Soho consortium's final offer made on Monday night was less than the sellers had expected, and they rejected it.
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