Shikun & Binui Provides Update with Regard to ADO

AIRPORT CITY, Israel, Sept. 19, 2017 /PRNewswire/ -- Shikun & Binui Ltd. (TASE: SKBN.TA),a global construction, infrastructure and real estate company, announced today that, following the immediate report dated September 5, 2017, relating to the negotiations with Dune International, it has also started negotiations relating to the said agreement with funds that are managed by entities that are connected to Apollo Global Management LLC (NYSE:APO).

There is no certainty that the parties will indeed reach an agreement. If a binding agreement will be reached and all the conditions met, the Company will announce it publicly.

The tender offer that was published by the Company on August 20, 2017 is still valid and the Company is committed to it.

ADO, whose shares are traded on the Tel Aviv Stock Exchange under the symbol ADO.TA, is the controlling shareholder of ADO Properties, a Berlin-based company that holds over 20,000 rental apartments and other properties in the city.

Please note - This is not an official translation. In case of discrepancy between the Hebrew original text and the English language translation, the Hebrew version shall prevail.

About the Shikun & Binui Group

The Shikun & Binui Group is a global construction and infrastructure company that operates in Israel and internationally in seven segments: 1) infrastructure and construction contracting outside of Israel; 2) infrastructure and construction contracting within Israel; 3) real estate development within Israel; 4) real estate development outside of Israel; 5) renewable energy; and 6) concessions. The Group's activities focus on large, highly complex projects carried out for entities in private and public sectors with a focus on sustainability.

This summary announcement was prepared solely for the convenience of the reader and does not replace Shikun & Binui Ltd.'s (hereafter – "the Company") full report.  The information contained in this announcement is, by its nature, incomplete. All of its contents are provided as a supplement to the Company's report, and are subject to the declarations therein stated.  This announcement includes forecasts, assessments, estimates and other information relating to the Company or its subsidiaries, or to other parties or to future events and matters, the extent of whose realization is not certain and is not under the sole control of the Company (forward-looking information, as defined in the Securities Law-1968).  The key facts and data serving as the basis for this information are facts and data, among others, related to the current status of the Company and its businesses, facts and data relating to the current status of the operating segments in which the Company engages in its areas of operation, and other macroeconomic facts and data known to the Company on the preparation date of this presentation.