The offer was made in the framework of the Buy Me Buy You (BMBY) agreement between the parties.
Amot Investments Ltd. (TASE:AMOT announced Sunday that it had made an offer to its partner in the Rehovot Mall, Reit Asset Management Israel, to buy out its share of the mall. Amot offered NIS 465 million for Reit Israel's share, reflecting a value of NIS 875 million for the mall. The offer was made in the framework of the Buy Me Buy You (BMBY) agreement between the parties.
Las week the companies announced the signature of a BMBY agreement in relation to the entirety of the rights in the mall. Under such agreement, REIT Israel may respond by the 26th of June as to whether it accepts the buyout offer by Amot or whether it intends to acquire the share of Amot according to its proportionate share under the value of NIS 875 million for the mall.
Published by Globes [online], Israel business news - www.globes.co.il - on June 18, 2007
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