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<a href="http://www.accessmylibrary.com/coms2/summary_0286-26771089_ITM" title="Facts and information about Migdal retracts sale of Israel Land Development building.">Migdal retracts sale of Israel Land Development building.</a>
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Migdal retracts sale of Israel Land Development building.
(From Israel Business Arena)
Byline: Elazar Levin
Migdal Insurance has reversed its decision to exercise its option to sell the former Hamagen House, now occupied by Israel Land Insurance, to the current tenant. Israeli Land Development was to have paid $15.8 million for the building, located on the Tel Aviv shore. The Migdal group leased it to Israel Land Development two years ago.
The lease grants Migdal Insurance a one-time option to require Israel Land Development to buy the building at a price to be determined by an assessor, with a minimum of $15.8 million and a maximum of $18 million. Migdal initially announced its intention of exercising its option.
Executives from the two companies held talks ...
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