Two months after agreeing to buy the Sharon mall, Financial Levers (TASE: LVR) is withdrawing from the deal.
Financial Levers (Manofim), belonging to Jacky Ben-Zaken and Avrahan Nanikashvili, was to buy the center from Alrov (TASE: ALRO).
Alrov, belonging to Alfred Akirov, did not sit around whimpering, though. It immediately found a new buyer - British Israel, which is buying the mall for the same price that Financial Levers was supposed to pay.
British Israel announced that it's buying the mall based on a price assuming leasing revenues from businesses of NIS 27 million a year. If that condition proves false, then British Israel, which belongs to the British millionaire Leo Noe, may retreat from the deal too.
Occupancy of the 14,700 square meter mall was 99% at the end of 2006. It had 120 tenants, including clothing chains, food, shoe stores and cafes.
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