The sides are far apart on several fronts, but talks may resume in the future.
The parties disagree on a number of tax issues and other points relating to the structure of the deal. The negotiations have been called off, but may resume later.
Sources inform ''Globes'' that Azrieli Group was due to purchase Africa-Israel's stake in the Ramat Aviv Mall at a value of NIS 1.9 billion, reflecting a return on investment of 5.5%. This would be a record price of a mall, far above the assessment made for it. The price tag for the Savionim Mall was NIS 200 million.
"Globes" was the first to report about the talks between Africa-Israel and Azrieli Group over the sale of the malls. On July 10, Africa-Israel confirmed the report in a notice to the Tel Aviv Stock Exchange (TASE). It said that it had reached an memorandum of understanding (MOU) with Azrieli Group, and that it expected to obtain a total of NIS 1.8 billion for its holdings in the malls that were part of the deal.
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