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| | Avi Nota, Manager, European division, Africa Israel |
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Africa Israel to start activity in Germany
European division of Africa Israel signs agreement to purchase 70 percent of four German companies that own 35 properties
Ynet
Africa Israel is starting activity in Germany. The company has signed a 70,000-euro agreement to purchase 70 percent of four German companies' shares. These companies own the rights to 97-million-euro worth of assets.
The asset portfolio comprises 35 real-estate properties including buildings for residential, commerce and industry purposes in Berlin and in the Düsseldorf vicinity. Total annual proceeds from rent are 7.8 million euro.
Avi Nota, manager of the European division of Africa Israel said that this deal was the spearhead of Africa Israel's operations in the European real-estate market. "The company will continue to appraise additional business opportunities all over the country and expand its activities in Germany," said Nota.
Erez Meltzer, CEO of Africa Israel added that Africa Israel's entry into Germany was in accordance with the company's strategy to strengthen its asset portfolio in the European continent.
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