Jelmoli has begun legal proceedings against the Israeli-led consortium that pulled out of the EUR 2 bn deal to buy a portfolio of 88 properties from the Swiss department store group. AIM-listed Delek Global Real Estate (DGRE) confirmed on Wednesday that it received notification on 31 December of the commencement of arbitration proceedings.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
