Cinema City International (CCI), part of Israel's International Theatres, will pay 18 million euro to increase its participation in two mall developers in Bulgaria, reports news agency SeeNews.
Under the terms of the agreements, CCI will buy 15 per cent in Mall Plovdiv, the company building a large shopping centre in Plovdiv.
The Plovdiv mall will have 25 000 sq m of lettable retail space and should be completed in early 2009.
CCI will also acquire 45 per cent of Malls Cinema City, which is building a shopping centre in Rousse, on the Danube.
The deal will increase to 90 per cent CCI's participation in Malls Cinema City.
The Ruse mall will have 35,000 sq m of lettable retail space when it opens in 2009.
CCI is also developing a shopping centre scheme in Stara Zagora. In partnership with Israel's Aviv Group, CCI will invest 70 million euro in the project.
Read the full story on Dnevnik.bg
