Africa-Israel Investments Ltd. (TASE: AFIL) share price continues to climb today after the company reported progress on the sale of a property in Florida and completion of the sale of a property in Moscow. The share price was up 6% to NIS 7.33.
Africa-Israel announced the $37 million deal in April. The Florida property is for residential, hotel, and retail use, among other things, and includes a 56 room hotel and 14 housing units. The company postponed closing the deal a number of times, and the deal was meant to be finalized yesterday.
This morning, Africa-Israel said, “The parties have begun taking steps to finalize the deal. However, due to technical matters and the holiday vacation in the US, the parties are expected to complete the deal by January 3.”
Yesterday, Africa-Israel announced completion of a sale of a property in Moscow that will yield $9.5 million profit for the company.
Published by Globes [online], Israel business news - www.globes-online.com - on January 1, 2014
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