Africa-Israel loses NIS 389 million in third quarter of 2009

Africa-Israel loses NIS

Israeli real estate company Africa-Israel finished the third quarter of 2009 with losses of NIS 389 million, according to data released Sunday. The company, controlled by Lev Leviev, is apparently suffering from losses in its subsidiary companies. In the second quarter of 2009, Africa-Israel lost NIS 1.3 billion, and was struggling to pay its debts.