Closing Sale Pumped Storage
(WorldNews Netherlands)

KARDAN`S SUBSIDIARY TAHAL FINALIZED SALE OF ITS STAKE IN PUMPED STORAGE IN ISRAEL Amsterdam, December 14, 2017 - Kardan N.V. (`Kardan` or `the Company`), active in Real Estate and Water Infrastructure in emerging markets announces that its subsidiary Water Planning for Israel Ltd. (`WPI`) has finalized the sale of its 40.5% stake in Star Pumped Storage Ltd for a total consideration of NIS 81 million (approximately EUR 19 million). The Company estimates that the completion of the sale will result in a capital gain of approximately EUR7.9 million (before tax). In addition, in July and December 2017 WPI received an amount of NIS 37 million (approximately EUR8.9 million) as reimbursement of expenses...