Elbit Imaging Ltd (EMITF)

[midastouch017]

Elbit Imaging Announces Receipt Of Further Payment Following The Sale Of Belgrade Plaza (Visnjicka) By Its Subsidiary, Plaza Centers

TEL AVIV, ISRAEL / ACCESSWIRE / September 14, 2017 / Elbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ: EMITF) announced today, in further to its announcements dated on March 2, 2017, regarding the completion of the sale of Belgrade Plaza, that Plaza Centers N.V. ("Plaza") (LSE:PLAZ), an indirect subsidiary (45%) of the Company, has received a further payment of €13.4 million from the Purchaser, having met certain pre-agreed milestones.

About Elbit Imaging Ltd.

Elbit Imaging Ltd. operates in the following principal fields of business: (i) Commercial centers - initiation, construction, and sale of commercial centers and other mixed-use property projects, predominantly in the retail sector, located in Central and Eastern Europe. In certain circumstances and depending on market conditions, the Group operates and manages commercial centers prior to their sale. (ii) Hotel - operation and management of the Radisson hotel complex in Bucharest, Romania. (iii) Medical industries and devices - (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) Plots in India - plots designated for sale initially designated to residential projects.