Announced
Elco to acquire Granite Hacarmel from Azrieli Group for $290m.
Synopsis
Holding company Elco agreed to buy Granite Hacarmel Investments involved in marketing and producing oil products from Israeli real estate developer Azrieli Group for 1.02bn shekels ($290m). The move by Azrieli to sell Granite Hacarmel is part of Azrieli’s strategy to focus on its core real estate business.
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