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Plaza Centers NV - Amsterdam-based property investor in India - Reports that a potential local investor interested in buying the rights to its Bangalore site in India has been arrested on suspicion of money laundering. Company says this could negatively impact on the buyer's ability to complete the purchase.
Between mid-April and mid-June, Plaza established a compromise between its 48%-owned investees Elbit Plaza India Real Estate Holdings Ltd and Elbit Imaging Ltd and an unnamed local investor to buy the rights to the Bangalore site for between €13.5 million to £14.1 million. This unnamed local investor is the party that has since been arrested.
Current stock price: 30.00 pence
12-month change: down 99%
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