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LONDON (Alliance News) - Real estate investor Plaza Centers NV said Monday that the sale of its 74.7 acre plot of land in the Indian city of Chennai had not taken place as expected and negotiations are ongoing.
Plaza Centers and Elbit Imaging Ltd are each to sell their 50% stakes in the plot for approximately EUR13.2 million in total. The potential buyer of the plot has not been disclosed.
The closing date for the deal was extended to December 20, and again to this Monday, but has yet to take place.
Negotiations with the undisclosed buyer are ongoing, and Plaza said it will "update regarding any new developments during the upcoming week".
Shares in Plaza Centrers were untraded at 35.00 pence on Monday afternoon.