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LONDON (Alliance News) - Plaza Centers NV on Thursday said it has received EUR520,000 from the sale of a vehicle which holds a site in Bangalore, India.
Elbit Plaza India Real Estate Holdings Ltd, a 47.5%-owned unit of Plaza Centres, has received EUR9.6 million for the sale of the vehicle to-date, out of the EUR43.4 million in total for the deal.
Plaza Centers said that it supposed to secure EUR11.7 million in total by the end of February under the deal. It now expects to get a further EUR2.2 million by the end of the first quarter of 2019.
The remaining consideration of 33.7 million is to be paid by the purchaser in unequal monthly instalments until August 31, as determined in the agreement.
The company currently does not have significant operations. Previously it was engaged in the development, construction, operation, and sale of shopping and entertainment centres.
Plaza Centers shares closed untraded on Thursday at 35.00 pence each.
