Elbit Imaging subsidiary gets loan to control Liberec Plaza

Elbit Imaging Ltd. (TASE, NASDAQ: EMITF) said that Plaza Centers N.V. (LSE:PLAZ) an indirect subsidiary of the company, has announced that its wholly owned subsidiary has won a tender to buy a loan in respect of the Liberec Plaza commercial centre in the Czech Republic.

The EUR20.4 million bank loan was granted by two commercial banks which Plaza has agreed to buy for EUR8.5 million, reflecting a discount of 58 percent.

The closing of the transaction is subject to the approval of the Hungarian National Bank (as one of the lending banks is Hungarian) which is expected to be received by the end of October 2015.