The deal was made at a company value of C$37.5 million for Onestop.
Mishorim Development Ltd. (TASE:MSHR) and its partner in Canadian out-of-home digital network operator Onestop Media Group Inc. have sold 13.33% of the company for C$5 million, reflecting a company value of C$37.5 million. Mishorim subsidiary Skyvision Telemedia Inc. sold 5% of Onestop for C$2.2 million, diluting its stake in the company from 42% to 37%.
Mishorim and its partner plan to float Onestop on the Toronto Stock Exchange within three years.
Mishorim and Israel Land Development Company (TASE: ILDC) jointly own Toronto-based real estate developer Skyline International Development Inc., which they also plan to float on London’s Alternative Investment Market (AIM).
Published by Globes [online], Israel business news - www.globes-online.com - on January 6, 2008
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