Elbit sells West buys East

Elbit Imaging, the Israeli conglomerate is selling 47 shopping malls in the USA. The real estate holdings will be sold for for $1.42 billion. Elbit wiill realize a profit of $220 million, according to Ynet news. Net cash profit will realise $30 million. The company will continue to maintain two U.S. properties.

Elbit has plans invest $500 million to develop land bought in India in 2006 with commercial, residential and retail establishments.

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