Big buys Modi'in Ispro Center

Ispro  / Photo: Tamar Matsafi

The acquisition will allow Tnuport to complete the acquisition of the rest of Ispro's assets from Property & Bulding.

Big Shopping Centers (2004) Ltd. (TASE:BIG) has announced that it has signed a binding agreement to buy the Ispro Center in Modi'in from Tnuport for NIS 425 million.

The deal will expedite the purchase of the remainder of Ispro - The Israel Properties Rental Corp. Ltd. (TASE: IPRO) by Tnuport owners Kidan Dahari and Yaron Adiv, who signed an agreement to buy all Ispro's assets from Property and Building Ltd. (TASE: PTBL) in April for NIS 800 million. But Tnuport had struggled to obtain financing for the deal, which looked set to collapse, with Villar International Ltd. (TASE:VILR) waiting in the wings and in advanced talks with Property & Building to replace Tnuport.

But with the money from the Big deal, Tnuport can now go ahead and complete the acquisition of Ispro.

Published by Globes, Israel business news - en.globes.co.il - on December 31, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Ispro  / Photo: Tamar Matsafi
Ispro / Photo: Tamar Matsafi
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