Isralom in talks to buy Olimpia stake

By YONI TEITZ
July 9, 2007 08:12

Olimpia's subsidiary, Olimpia Euro Construction, will buy 75% of the approximately 41-acre lot on which the project will be built for NIS 365 million.




Isralom, a real estate firm controlled by Bronfman-Fisher Investments, said Sunday it has begun discussions to buy a stake in Petah Tikva-based Olimpia Real Estate Holdings. Olimpia's controlling shareholders, who own about 39 percent of the company, are looking to sell half of their stake. Separately, Olimpia said Sunday it is entering the Ukrainian market with plans for a NIS 3.4 billion development project in Kiev, which will include residences, commercial space, offices and a hotel, expected to generate proceeds of about NIS 6.4b. Olimpia's subsidiary, Olimpia Euro Construction, will buy 75% of the approximately 41-acre lot on which the project will be built for NIS 365 million.


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