Gazit-Globe Completes the Sale of 3.7% of FCR Shares for CAD 185 Million
(Thomson Reuters ONE) -
TEL-AVIV, Israel, March 02, 2017 (GLOBE NEWSWIRE) -- Gazit-Globe (NYSE:GZT)
(TSX:GZT) (TASE:GZT), a leading global real estate company focused on the
ownership, development and management of supermarket-anchored shopping centers
in major urban markets, announced today the sale of 9.0 million shares of First
Capital Realty (FCR), representing approximately 3.7% of the total outstanding
shares of common stock of FCR. The shares were sold on the Toronto Stock
Exchange at a price of CAD 20.6 per share for gross proceeds of approximately
CAD 185 million.
On March 1(st), 2017, a wholly owned subsidiary of Gazit Globe has entered into
an agreement with a syndicate of underwriters co-led by TD Securities Inc.,
National Bank Financial Inc. and CIBC Capital Markets for the sale of 9 million
shares of FCR, representing approximately 3.7% of the outstanding shares of FCR,
in a deal on the Toronto Stock Exchange (on a "Bought deal" basis) at a price of
CAD 20.6 per share, for gross proceeds of approximately CAD 185 million (NIS
500 million).
In addition, the subsidiary has granted the underwriters an over-allotment
option to purchase up to an additional 1.35 million FCR shares from the Company
at any time up to 30 days after closing of the offering. If exercised in full,
it would increase the gross proceeds to approximately CAD 213 million
(approximately NIS 575 million).
After completion of the sale, the Company will own (including through its wholly
owned subsidiaries) approximately 79.6 million shares of FCR, representing
approximately 32.7% of the outstanding shares and voting rights of FCR.
The Company is evaluating the effects of the aforementioned sale on its
financial statements, including the deconsolidation of FCR.
About Gazit-Globe
Gazit-Globe is a global owner, developer and operator of high quality necessity-
driven supermarket-anchored retail properties in urban markets. Gazit-Globe is
listed on the New York Stock Exchange (NYSE:GZT), the Toronto Stock Exchange
(TSX:GZT) and the Tel Aviv Stock Exchange (TASE:GZT) and is included in the TA-
35 index in Israel. As of September 30, 2016, Gazit-Globe owns and operates 427
properties in more than 20 countries, with a gross leasable area of
approximately 6.5 million square meters and a total value of approximately US$
22 billion.
FORWARD LOOKING STATEMENTS
This release may contain forward-looking statements within the meaning of
applicable securities laws. In the United States, 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 and the
Canadian Securities Administrators. Except as required by applicable 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.
FOR ADDITIONAL INFORMATION
Investors Contact: ir(at)gazitgroup.com, Media Contact: press(at)gazitgroup.com
Gazit-Globe Headquarters, Tel-Aviv, Israel, Tel: +972 3 6948000
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Gazit-Globe via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 02.03.2017 - 11:59 Uhr
Sprache: Deutsch
News-ID 527780
Anzahl Zeichen: 4362
contact information:
Town:
TEL AVIV-YAFO
Kategorie:
Business News
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