BRIEF: Gilat offers building sales: The satellite communications equipment maker hopes to lease back the space.

Jul 06, 2008 (Globes - McClatchy-Tribune Information Services via COMTEX) -- GILT | Quote | Chart | News | PowerRating -- Sources inform "Globes" that Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT | Quote | Chart | News | PowerRating) wants to sell its two office buildings for $70-80 million in sell and lease-back deals. The two properties are located in Kiryat Arie in Petah Tikva. The sources added that it has contacted Israel's top insurance companies -- Harel Insurance Investments and Financial Services Ltd. (TASE: HARL), Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS), Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL), and Israel Phoenix Assurance Ltd. (TASE: PHOE1;PHOE5) -- about a deal.

The VSAT satellite communications equipment maker and services provider owns two of the four building in the Daniv Park in Kiryat Arie, which were built by Denisra International Ltd. in the late 1990s. Gilat purchased two of the buildings for its own use. Gilat is about to be sold to a consortia led by Gores Group LLC and Mivtach Shamir Holdings Ltd. (TASE:MISH).

To see more of the Globes or to subscribe to the newspaper, go to http://www.globes.co.il. Copyright (c) 2008, Globes, Tel Aviv, Israel Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

Morning Coffee with TradingMarkets -- Free Newsletter

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index