| Sale of two logistic centres. |
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Date:
15/11/2006
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Source:
TASE
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Renault Trucks, France & Renault Nissan, Hungary
ELECTRA REAL ESTATE LTD. .("The Company") hereby notify you that a subsidiary of the company, which, at the end of the chain, possesses 42.5% of two logistic centres in France and Hungary, has made an agreement for the sale of its holdings in the properties, Set out below are the main details of the transaction:
•The properties that are being sold are logistic centres that are let to Renault.
•The sale of the property in Hungary has been completed and the sale of the property in France is subject to several suspensory conditions that are expected to be completed by the end of 2006.
•The total proceeds of sale of the properties is approx. € 28.5 million (approx. NIS 157 million).
•From the sale of the properties the company will make a pre-tax gain, after all the costs involved in the sale, of approx. € 4.7 million (approx. NIS 26 million).
•The total net cash flow that the company will produce from the sale of the properties, after repayment of the mortgages and all the other ancillary expenses, is approx. € 6.4 million (approx. NIS 35 million).
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| Renault Trucks, France |
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| Renault Nissan, Hungary |
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