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Re: midastouch017 post# 1767

Friday, 11/24/2017 9:05:35 AM

Friday, November 24, 2017 9:05:35 AM

Post# of 1834
Elbit Imaging Update Regarding The Sale Of The Radisson Hotel Complex In Bucharest, Romania

ACCESSWIRE ACCESSWIRENovember 24, 2017
TEL AVIV, ISRAEL / ACCESSWIRE / November 24, 2017 / Elbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ: EMITF) announced today, further to its announcement dated November 8, 2017, that the Company and the proposed purchaser agreed that the exclusivity period regarding the conduct of negotiations for the sale of its entire indirect shareholdings (98.2%) in the subsidiary company owning the Radisson Hotel Complex in Bucharest, Romania (the "Transaction"), will be extended until November 29, 2017, which the Company anticipates will be the signing and execution date of a definitive Share Purchase Agreement.

The closing and consummation of the Transaction, which is expected to take place during the course of the month of December 2017, is subject to the execution of definitive agreements and the fulfillment of certain conditions precedent to be specified in the definitive agreement. At this stage, there can be no certainty that the conditions precedent will be met in a timely manner, or that the Transaction will be successfully completed.