Israel’s Elbit plans to buy back up to NIS 70 million series I notes

By Sarah Lizee

Olympia, Wash., July 18 – Elbit Imaging Ltd. announced that its board of directors approved a new plan for the repurchase of the its series I notes beginning Aug. 26 for a total consideration of up to NIS 70 million.

The repurchases will be made on the Tel Aviv Stock Exchange or in privately negotiated transactions, according to a press release.

Elbit said the repurchases are subject to the closing of Exigent Capital Group’s purchase of 11,574,146 shares of Elbit Medical Technologies Ltd.

Elbit Imaging is a company based in Tel Aviv with interests in commercial centers and other mixed-use real estate projects, predominantly in the retail sector, located in Central and Eastern Europe, hotels, medical industries and devices and residential projects, primarily in India.

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