Navigation Links
Elbit Imaging Ltd. Announces Investment of US$ 12.5 Million in Insightec by Shanghai GEOC Hengtong Investment Limited Partnership and Fortune China Limited
Date:9/14/2014

TEL AVIV, Israel, September 14, 2014 /PRNewswire/ --

Elbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ: EMITF) announced today further to the Company's announcement dated June 29, 2014 and September 8, 2014 (the "Company's Previous Reports"), that it was informed by InSightec Ltd. ("InSightec"), of the closing of investment of US$ 12.5 million by  Shanghai GEOC Hengtong Investment Limited Partnership and Fortune China Limited (jointly: the "Chinese Group").In the framework of the present investment round in InSightec, the Chinese Group has exercised the right granted thereto in the investment round documents (as specified in the Company's Previous Reports) and has acquired a total of 6,444,404 Series D preferred shares of InSightec, which represent approx. 5% of the share capital of InSightec on a fully diluted basis, in consideration for a total payment of U.S. $12.5 million. Upon the closing of the transaction, the, Elbit Medical's holding in InSightec is 37.6% (33.3% on a fully diluted basis).

The Company holds approximately 85% in Elbit Medical Technologies Ltd. ("Elbit Medical") (TASE: EMTC-M) on fully diluted basis.

About Elbit Imaging Ltd. 

Elbit Imaging Ltd. operates in the following principal fields of business: (i) Commercial and Entertainment Centers - Initiation, construction and sale of shopping and entertainment centers and other mixed-use real property projects, predominantly in the retail sector, located in Central and Eastern Europe and in India, primarily through its subsidiary Plaza Centers N.V. In certain circumstances and depending on market conditions, the Company operate and manage commercial and entertainment centers prior to their sale; (ii) Hotels - Hotel operation and management; (iii) Medical Industries - (a) research and development, production and marketing of magnetic resonance imaging guided focused ultrasound treatment equipment and (b) development of stem cell population expansion technologies and stem cell therapy products for transplantation and regenerative medicine; (iv) Residential Projects - Initiation, construction and sale of residential projects and other mixed-use real property projects, predominately residential, located primarily in India; and (v) Fashion Apparel - Distribution and marketing of fashion apparel and accessories in Israel.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 

Any forward-looking statements in our releases include statements regarding the intent, belief or current expectations of Elbit Imaging Ltd. and our management about our business, financial condition, results of operations, and its relationship with its employees and the condition of our properties. Words such as "believe," "would," "expect," "intend," "estimate" and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Actual results may differ materially from those projected, expressed or implied in the forward-looking statements as a result of various factors including, without limitation, the factors set forth in our filings with the Securities and Exchange Commission including, without limitation, Item 3.D of our annual report on Form 20-F for the fiscal year ended December 31, 2013, under the caption "Risk Factors." Any forward-looking statements contained in our releases speak only as of the date of such release, and we caution existing and prospective investors not to place undue reliance on such statements. Such forward-looking statements do not purport to be predictions of future events or circumstances, and therefore, there can be no assurance that any forward-looking statement contained our releases will prove to be accurate. We undertake no obligation to update or revise any forward-looking statements.


For Further Information:
   
Ron Hadassi  
Chairman and Acting CEO  
Tel: +972-3-608-6048  
ron@elbitimaging.com  




'/>"/>
SOURCE Elbit Imaging Ltd.
Copyright©2014 PR Newswire.
All rights reserved

Related medicine technology :

1. Elbit Imaging Ltd. Announces Second Quarter Results for 2012
2. Elbit Imaging Ltd. Announces Standard & Poors Maalot Changes Rating of Companys Notes
3. Elbit Imaging Ltd. Announces InSightecs ExAblate Neuro System Awarded European CE Mark for Non-invasive Treatment of Neurological Disorders in the Brain
4. Elbit Imaging to Suspend Interest Payments to All Note Holders
5. Elbit Imaging Reaches an Understanding Regarding a Proposed Debt Restructuring
6. Elbit Imaging Announces Receipt of an Acceleration Notice from Bank Leumi
7. Elbit Imaging Announces the Court Decision with Respect to Filing of Plan of Arrangement with the Israeli Court
8. Elbit Imaging Ltd. Announces First Quarter Results For 2013
9. Elbit Imaging Ltd. Announces (1) Courts Resolution Regarding the Results of Creditors Meeting and (2) Results of Extraordinary General Meeting
10. Elbit Imaging Ltd. Announces Results of its General Meeting
11. Elbit Imaging Announces the Results of the Companys Unsecured Financial Creditors Meeting Approving the General Terms of Agreement to be Entered Into With Bank Hapoalim
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/13/2018)... ... 13, 2018 , ... Bladder issues are complicated and require ... Women’s Excellence now offers all bladder testing in office to be convenient ... sensitivity testing, and ultrasounds. Women’s Excellence is able to treat patients suffering ...
(Date:12/13/2018)... Calif. (PRWEB) , ... December 13, 2018 , ... ... infectious disease diagnostics with genomics, announced today the results of an ongoing clinical ... findings showed that the Karius® Test, a non-invasive blood test that detects pathogen ...
(Date:12/10/2018)... IRVING, Texas (PRWEB) , ... December 10, 2018 , ... ... 1, 2019. Witty joined MADD in 2000 after her 16-year-old daughter, Helen Marie, was ... near the family’s home in Miami on a clear June afternoon. , “I landed ...
Breaking Medicine Technology:
(Date:12/13/2018)... (PRWEB) , ... December 13, 2018 , ... Individuals who ... the opportunity to win a full-ride scholarship offered by Dr. Kami Hoss of Howard ... Dec. 17. The full-ride scholarship would enable a student to become a registered dental ...
(Date:12/10/2018)... ... ... ago, Erica Lester was diagnosed with clinical depression. “I had what looked like a happy ... two beautiful daughters. I had a great a job working as a project manager for ... days struggling to get out of bed. On the days she was able to ...
(Date:12/8/2018)... (PRWEB) , ... December 07, 2018 , ... ... for Community Service for its annual tradition of supporting non-profit organizations through fun, ... with Garland employees helping raise more than $400,000 for charities in northeast Ohio ...
(Date:12/6/2018)... ... December 06, 2018 , ... HMP, ... Post-Acute Care Symposium (PACS). The meeting will take place May 9–10, 2019, and ... Society meeting in San Antonio, Texas. , PACS is uniquely designed to provide ...
(Date:12/6/2018)... ... December 06, 2018 , ... The University of Utah’s Gymnastics team ... containing Indigo-Clean continuous environmental disinfection. The lights are installed in the team’s ... gymnastics programs across the nation by providing this new, proven bacteria fighting technology as ...
Breaking Medicine News(10 mins):