The sale is part of the dissolution of the partnership between Lev Leviev and Shaya Boymelgreen.
Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) is selling a 24,400-square meter lot in Miami, for $88.7 million. The property is held by six subsidiaries through AI Holdings (USA) Corporation. The sale is part of the dissolution of Leviev Boymelgreen.
Africa-Israel said that it expects to report a pretax capital gain of $39 million on the sale.
The buyer has paid a non-refundable deposit of $8 million on the property, and will pay the balance when the deal is closed within 100 days of the signing of the contract.
Published by Globes [online], Israel business news - www.globes-online.com - on December 11, 2007
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