Elbit Imaging selling operation of Mango stores for NIS 28 million

By Kali Hays

New York, Oct. 14 – Elbit Imaging Ltd. and its subsidiary Elbit Fashion Ltd. are negotiating a sale of the operation of Mango retail stores located in Israel with Punto FA, SL and Fox-Wisel Ltd., according to a news release.

The purchase price is expected to be roughly NIS 28 million and the price of Elbit Fashion inventory to be transferred to Fox-Wisel.

Elbit said that the negotiations will be complete by the end of November and the sale will be conditioned upon approval of the Israeli Antitrust Authority.

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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