Full Year 2016 results Kardan N.V.
(WorldNews Netherlands)

PRESS RELEASE Amsterdam/Tel Aviv, March 23, 2017 Number of pages: 12 2016 RESULTS KARDAN N.V. Ariel Hasson, CEO of Kardan NV: "2016 has been a transition year for Kardan, in which we met important milestones. The Company was able to complete two important transactions. In the first half of the year we completed the sale of the remaining 25% of KWIG for a net consideration of approximately $ 27.7 million. In the third quarter we successfully completed the sale of our 100% subsidiary TBIF, the holding company of our banking and retail lending activities, for a total consideration of EUR 82 million. With these transactions, we generated a substantial cash flow enabling us to early repay the...