Elbit Imaging creditors approve Bank Hapoalim refinancing agreement

By Caroline Salls

Pittsburgh, Nov. 26 - Elbit Imaging Ltd. said financial creditors holding 70.6% of total voting power that participated in a meeting on the company's refinancing agreement with Bank Hapoalim BM voted in favor of the proposal.

According to a company news release, the vote results mean the approval or consent of unsecured financial creditors required for fulfillment of conditions to Elbit's adjusted plan of arrangement have been obtained.

As previously reported, Elbit's adjusted arrangement included a condition that an understanding be reached between the company and the bank and approved by more than 50% of the total voting power participating in a meeting of unsecured financial creditors.

The arrangement remains subject to court approval and satisfaction of other conditions.

Tel Aviv-based Elbit Imaging is a holding company with activities in the fields of commercial and entertainment centers, hotels, image-guided treatment, residential real estate and fashion retail.

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