Israel's Property, Harel halt Broadgate talks

Wed Jul 8, 2009 11:32am EDT
 
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TEL AVIV, July 8 (Reuters) - Israel's Property and Building (PTBL.TA) and Harel Insurance and Financial Services (HARL.TA) said on Wednesday they decided to halt talks to acquire minority stakes in London's Broadgate office complex.

In separate statements to the Tel Aviv Stock Exchange, the companies did not provide further details.

Last month Property and Building had said it was considering purchasing a stake in British Land's (BLND.L) Broadgate complex for 100 million pounds ($160.7 million).

Property and Building, a subsidiary of holding company IDB Holding Corp (IDBH.TA), had said it would buy shares in a real estate firm that holds Broadgate. An industry source said the firm was British Land's subsidiary through which it holds Broadgate.

Harel, Israel's third-largest insurance group, had said it was examining an acquisition of 45 million pounds worth of shares. [ID:nLI302645] ($1=.6224 Pound) (Reporting by Tova Cohen; Editing by Hans Peters)

 

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