Israeli income producing property company Azrieli Group (TASE: AZRG) notified the Tel Aviv Stock Exchange (TASE) this morning that it has signed an agreement to acquire Eilat's Mall Hayam shopping mall for NIs 1.31 billion. Azrieli first reported in July that it was in talks to buy the mall in the Red Sea resort. Mall Hayam is owned by Eli Yisraeli (50%), Ilan Ben-Dov (25%) and Israel Phoenix Assurance Ltd. (TASE:PHOE1; PHOE5) (25%). RELATED ARTICLES Azrieli Group buys Norwegian data centers co for NIS 2.3b Azrieli, Melisron report sharp rebound at malls Azrieli to build, lease SolarEdge campus Azrieli sells Kiryat Ata mall and offices Azrieli buys Abraham Hostel Tel Aviv building Mall Hayam has debts of NIS 471 million but 100% occupancy and total annual revenue in 2020 of the mall's 104 businesses was NIS 33 million. Completion of the deal is contingent on approval from the Israel Competition Authority and the Israel Land Authority. Published by Globes, Israel business news - en.globes.co.il - on October 4, 2021 Copyright of Globes Publisher Itonut (1983) Ltd. 2021
