Ahouvi's Ravad has sold its 50% stake in the complex in the Solent Business Park.
Real estate company Ravad Ltd. (TASE: RAVD) today reported that it was selling its 50% stake in an office complex in the Solent Business Park in Portsmouth, UK, and would post a NIS 7.7 million loss on the deal. Ravad, controlled by Igal Ahouvi, announced that it and its partner in the property, a company that according to Ravad's reports is controlled by auto importer George Horesh's Union Motors group, had signed an agreement to sell full ownership of the complex for £67.5 million (NIS 400 million).
Ravad acquired the 40,000-sq.m. property, which currently contains five office buildings in the Solent Business Park, located south-west of London, in June 2009, and its sale is taking place a few days after Ravad signed a deal for the sale of another overseas asset, which it owns completely - all the shares in a commercial center in Sainte Therese, Montreal, Canada for $16.2 million (NIS 50.4 million).
Published by Globes [online], Israel business news - www.globes-online.com - on June 25, 2015
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Igal Ahouvi photo: Aviv Hofi