Israel's Property to buy stake in UK Hilton

Israeli real estate company Property and Building Corp said on Thursday it had joined a group to buy the Hilton Cardiff hotel in Britain for a joint investment of 35.3 million pounds ($71.8 million). Property said in a statement to the Tel Aviv Stock Exchange it had a 20 percent stake in the acquisition, with Israel's Destiny owning 20 percent, and Britain's Tonstate Group owning the remaining 60 percent.