DGAP-News: Gazit-Globe Purchases 5.5% of Atrium Shares From CPI for EUR 88 Million
(firmenpresse) - Gazit-Globe
28.08.2013 09:06
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TEL-AVIV, ISRAEL, 2013-08-28 09:06 CEST (GLOBE NEWSWIRE) --
Gazit-Globe (TASE:GZT) (NYSE:GZT), one of the world's leading multi-national
real estate companies focused on acquisition, development and redevelopment of
supermarket-anchored shopping centers in major urban markets, announced today
that it has entered into an agreement to purchase 20,416,463 of Atrium (ATR)
ordinary shares representing approximately 5.5% of its issued and outstanding
shares from an entity forming part of the consortium managed by CPI CEE
Management LLC ('CPI'), at a price of EUR 4.3 per share for a total
consideration of approximately EUR 87.8 million in an off-market transaction.
Following the completion of the acquisition, Gazit-Globe will hold (through
wholly-owned subsidiaries) 149,325,178 ATR ordinary shares comprising 39.9% of
the issued and outstanding shares of ATR (prior to the acquisition, Gazit-Globe
held 34.4% of ATR shares)
Following the completion of the acquisition, Gazit-Globe is expected to incur
an accounting gain in its third quarter 2013 financial statements, estimated to
be between NIS 155 million to NIS 175 million, calculated in accordance with
ATR's financial statements as of June 30, 2013 and the exchange rate of that
date. The expected accounting gain is subject to adjustments and will be
determined by means of an external calculation of the Purchase Price
Allocation.
Upon completion of the acquisition, CPI will hold 52,069,621 ordinary shares of
ATR, comprising 13.9% of the issued and outstanding shares of ATR. Gazit-Globe
and CPI will continue to jointly control ATR with 53.8% of its voting rights.
Roni Soffer, President of Gazit-Globe: 'We are pleased to be increasing our
strategic stake in Atrium in light of its excellent management and business
prospects. Atrium, which is active in Central and Eastern Europe with a primary
focus on Poland, has become over the last few years one of the strongest and
most stable real estate companies in the region .'
FORWARD LOOKING STATEMENTS
This release may contain forward-looking statements within the meaning of the
U.S. federal securities laws. These statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. Such
statements involve a number of known and unknown risks and uncertainties, many
of which are outside our control, that could cause our future results,
performance or achievements to differ significantly from the results,
performance or achievements expressed or implied by such forward-looking
statements. Important factors that could cause or contribute to such
differences include risks detailed in our public filings with the SEC. Except
as required by law, we undertake no obligation to update any forward-looking or
other statements herein, whether as a result of new information, future events
or otherwise.
About Gazit-Globe
Gazit-Globe is one of the largest owners and operators of supermarket-anchored
shopping centers in major urban markets around the world. In addition, the
Company is active in North America in the healthcare real estate sector.
Gazit-Globe is listed on the New York Stock Exchange (NYSE:GZT) and the Tel
Aviv Stock Exchange (TASE:GZT) and is included in the TA-25 and Real-Estate 15
indices in Israel. Gazit Globe owns and operates592 properties in more than 20
countries, with a gross leasable area of approximately 6.7 million square
meters and a total value of more than $20 billion.
CONTACT: FOR ADDITIONAL INFORMATION
Investors Contact: IR(at)gazitgroup.com
Media Contact: press(at)gazitgroup.com
Gazit-Globe Headquarters, Tel-Aviv, Israel,
Tel: +972 3 694 8000 / New York Office, Tel: +1 212 897 9741
www.gazitglobe.com
News Source: NASDAQ OMX
28.08.2013 Dissemination of a Corporate News, transmitted by DGAP -
a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Gazit-Globe
Panama
Phone:
Fax:
E-mail:
Internet:
ISIN: PAL0605071A3
WKN:
End of Announcement DGAP News-Service
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Datum: 28.08.2013 - 09:06 Uhr
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News-ID 291510
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