The company will use £46.2 million of the proceeds to repay the secured loan on London's Kinnaird House.
Yitzhak Tshuva-controlled Delek Real Estate Ltd. (TASE: DLKR) has sold another property held through Delek Global Real Estate Ltd. - Kinnaird House at 1 Pall Mall in London for £55 million. The company will use £46.2 million of the proceeds to repay the secured loan on the property.
The five-storey office building was built in 1923.
The sale is due to be closed on July 10, subject to due diligence, and the signing of a binding contract.
Delek Real Estate's share price rose 0.6% by mid-afternoon to NIS 0.16, giving a market cap of NIS 62 million.
Published by Globes [online], Israel business news - www.globes-online.com - on June 7, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012