Our Company was incorporated in 1996, under the laws of the State of Israel and subject to the Israeli Companies Law and the Israeli Securities Law. Our shares are listed on the NASDAQ (NASDAQ: EMITF) and on the Tel Aviv Stock Exchange.
Until the end of 1998, Elbit engaged primarily in the diagnostic systems and medical imaging device manufacturing field. Following the acquisition in May 1999, by Europe-Israel (M.M.S.) Ltd. (formerly an Israeli company listed on the Tel-Aviv Stock Exchange), of the majority of the issued and outstanding shares of Elbit from Elron Electronic Industry Ltd., Elbit's board of directors resolves that Elbit would focus its operations in the following businesses: shopping and entertainment malls, and venture capital investments, including image guided treatment products. Concurrently thereto, the board of directors of Elscint (following a merger with Elbit in November 2005 and as of such date, Elscint's ordinary shares have ceased to trade on the New York Stock Exchange and it became a wholly-owned subsidiary of the Company) resolved to focus its activities in: hotels and leisure, primarily in Europe; ownership of the shopping and entertainment center in Herzliya, Israel; industrial manufacturing and supply of components for the medical imaging; and venture capital investments in high-technology and bio-technology companies.
The following are our group’s major milestones achieved thought-out our years of operation:
Hotels:
1993: Hotel Division's first identified landmark hotel - The Victoria Hotel, Amsterdam, The Netherlands
1997-2003: Hotel Division's London based hotels - The Shaw Park Plaza Hotel, The Sherlock Holmes Park Plaza Hotel, The Victoria Park Plaza Hotel and The Riverbank Park Plaza Hotel
2000: Hotel Division's penetration into Romania - The Bucuresti Hotel Complex, Bucharest
2005: Sale of the Shaw Hotel in London
2007: Purchase of Atlanta Hotel, Antwerp, Belgium located at the city center and near the Elizabeth conventions center
Shopping Malls and Entertainment Centers:
1996: The Shopping and Entertainment Division initiation of the first Shopping Mall - The Duna Plaza in Budapest, Hungary
1996-2004: Shopping and Entertainment Division develops and manages a portfolio of approximately 20 shopping and entertainment centers in Central and Eastern Europe
2004-2006: 17 shopping and entertainment centers sold to Klépierre
2005: 4 shopping and entertainment centers sold to Dawnay Day
2006: Initial Public Offering on the London Stock Exchange of Plaza Centers N.V. (approx. 68.4%)
2006: Investments in India - The Koregaon Park and The Kharadi project in Pune and The Cochin Island Project located in Cochin
2007: Dual listing of Plaza Centers N.V. on the Warsaw Stock Exchange (WSE: PLAZ/PLAZACNTR)
2007: Successful openings of Rybnik, Sosnowiec and Lublin in Poland and Plzen Plaza in Czech Republic - all 100% let upon opening
2007: Successful opening and handover of Arena Plaza in Budapest, Hungary - 100% let upon opening - representing asset value of Euro 381 million
Bio-Tech and Medical Devices:
2004: InSightec Ltd. (approx. 52%) - FDA approval for ExAblate® 2000
2006: InSightec Ltd. - FDA highlights ExAblate® 2000 as one of the 14 most significant medical products approved in 2005
2007: Gamida Cell Ltd. (approx. 27.4%), SPA from FDA for StemEx® under Joint Venture with Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA)
2007: InSightec Ltd. - FDA approval for new version of ExAblate® 2000
Hi-Tech and Retail:
2005: Acquisition of Elbit Trade & Retail Ltd. (formerly, Mango Israel Clothing and Footwear Ltd.), the Israeli distributor and retailer of the international retail brand name MANGO-MNG
2007: Elbit Trade & Retail Ltd. (formerly, Mango Israel Clothing and Footwear Ltd.) signs an agreement with G-STAR for distribution and retailer rights of the international retail brand name.
Mega Projects:
2004: Initiation of the "Obuda" Dream Island (which received the final formal approval from authorities on 2006)
2006: Acquisition of 75% interest in the Casa Radio Project, Bucharest, Romania
2006: Investments in India - Strategic joint venture with AmbujaRealty Group - Multi-Specialty Tertiary Hospitals in India
2007 - 2008: Investments in India - luxury mixed-use Bangalore Project, India, and expansion of such Project