Shikun & Binui Allocates 13% of Shikun Ubinui Real Estate to Institutional Investors for NIS 290m
–(www.FinancialNewsUSA.com)– 01/02/2010 – Mergers and Acquisitions industry news provided by Financial News USA. RAMAT GAN, Israel, Dec. 31 /PRNewswire/ — Shikun & Binui Ltd. (TASE: SKBN.TA) (“Shikun & Binui” or the “Company”), a member of the Arison Group and Israel’s leading infrastructure and real estate company, announce today the signing of an agreement with Israeli institutional investors from Harel, Clal Insurance and The Phoenix Groups to sell approximately 13% of its fully owned subsidiary Shikun & Binui Real Estate for NIS 290m.
This deal reflects a post money valuation of NIS 2.25bn for Shikun & Binui Real Estate. The above-mentioned deal will result in the contribution of NIS 130m to the Company’s reported net profit.
Shikun & Binui Real Estate, under the management of Tamir Dagan, is the development arm of the Shikun & Binui Group and has been active in Israel for over 50 years. [Read the full article]
Billionaire investor Carl Icahn plans to pump still more cash into his bid to buy Donald Trump’s bankrupt casinos, according to papers filed in federal court.
Icahn already had agreed to buy a majority of the $486 million bank debt on the three properties: Trump Plaza Hotel and Casino, Trump Taj Mahal Casino Resort and Trump Marina Hotel Casino.
In a statement filed Tuesday in U.S. Bankruptcy Court, Icahn Partners Inc. committed another $125 million toward propping up struggling Trump Entertainment Resorts Inc.
Trump Entertainment filed for bankruptcy protection in February, the third such filing for the company and its corporate predecessors. The company’s struggling with crushing debt was exacerbated by a sour economy and competition from slots parlors in Pennsylvania and New York that have lured away some Atlantic City regulars. [Read the full article]
CHICAGO, Dec. 31 /PRNewswire-FirstCall/ — Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, has completed its previously announced acquisition of Logical Information Machines, Inc. (LIM), a leading provider of data and analytics for the energy, financial, and agriculture sectors, for $51.5 million, subject to post-closing adjustments.
LIM provides market pricing data, securities reference data, historical event data, predictive analytics, and advanced data management solutions that help customers manage large sets of time-series data. The company collects, unifies, and conducts quality assurance on data from more than 180 providers in the energy, financial, and agriculture sectors and provides clients with one central source for data intelligence and analysis.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. [Read the full article]
SCOTTSDALE, Ariz., Dec. 31 /PRNewswire/ — Healthcare Trust of America, Inc. (“HTA”), a self-managed, non-traded, real estate investment trust, announced the completed acquisition of the Select Rehabilitation Hospital of Denton building located in Denton, Texas, for approximately $15,485,000.
The approximately 43,600 square foot rehabilitation hospital contains 44 private, licensed beds and is strategically located across the street from the Presbyterian Hospital of Denton which has 216 general acute beds. Ã‚Â It is also immediately west of the future home of the Texas Oncology North Denton Cancer Center and Cook Children’s Hospital. Ã‚Â The building is 100% leased and occupied by Select Medical Corporation, a national healthcare corporation pursuant to a long term lease expiring in 2023. Select Medical currently operates 94 specialty hospitals and approximately 947 outpatient rehabilitation clinics. Ã‚Â The Denton hospital opened in 2008 and is expandable to 60 licensed beds. [Read the full article] About Financial News USA
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