Electra considers Hilton deal

Electra said it may acquire 15% of the purchase, estimating the total value of the deal at NIS 3.3 billion.

By DANIEL KENNEMER
December 6, 2005 07:53
electra logo 88

electra logo 88. (photo credit: )

Electra Real Estate is considering joining in the purchase of 16 UK Hilton hotels led by Igal Ahouvi and Delek Real Estate, the company told the Tel Aviv Stock Exchange Monday. Electra said it may acquire 15 percent of the purchase, estimating the total value of the deal at NIS 3.3 billion. Electra's part in the deal would then equal NIS 495m. Ahouvi and Delek are financing the purchase of the hotels with the Royal Bank of Scotland, and would lease them back to Hilton, which would manage the hotels under its banner for at least another 30 years.


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