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Elbit Medical to buy 75% of real estate project in Bucharest

The Israeli medical-electronics firm turned property developer will join in the construction of the Casa Radio project, Elbit Medical Imaging Ltd. said in a filing to the Tel Aviv Stock Exchange. The 360,000 square meter complex will be built in three stages over five or six years and will include a shopping and entertainment center, and a 300-room five-star hotel. Terms of the agreement are subject to the approval of the Romanian government. Shares of Elbit Medical Imaging fell 0.7% to 121.80 shekels. The stock has risen 69% this year. (Bloomberg)