Africa-Israel's Russian development arm AFI Development sold the property.
AFI Development plc (LSE:AFID), the Russian development arm of Africa-Israel Investments Ltd. (TASE:AFIL), controlled by chairman Lev Leviev, has sold a Moscow property for $104 million in cash. AFI Development will report most of the free cash flow from the sale.
Africa-Israel provided no further details, and AFI Development will notify the London Stock Exchange about the deal when the market opens tomorrow.
Published by Globes [online], Israel business news - www.globes-online.com - on December 16, 2012
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