Gazit Globe Completes Sale of Regency Centers Corporation for Approximately USD 295 Million (NIS 1.05 billion)
TEL-AVIV, Israel, May 24, 2018 (GLOBE NEWSWIRE) -- Gazit-Globe (NYSE:GZT) (TSX:GZT) (TASE:GZT), a leading global real estate company focused on the ownership, management and development of retail and mixed use properties in urban markets, announced that on May 23, 2018, a wholly-owned subsidiaries of the Company sold 3.5 million shares of common stock of Regency Centers Corporation (NYSE:REG) ("Regency"), representing approximately 2.0% of the outstanding share capital of Regency, for approximately $57.07 per share and total consideration of approximately $200 million (NIS 713 million).
Following the sale and in addition to a sale on May 17, 2018 of approximately 1.7 million Regency shares, for approximately $55.96 per share, and total consideration (together with the sale on May 23, 2018) of approximately $295 million (NIS 1.05 billion), the Company holds approximately 8.2 million shares of Regency common stock, representing approximately 4.8% of the outstanding share capital and voting power of Regency.
In connection with sale, the Company also agreed with the purchaser not to sell additional shares of Regency common stock for 30 days, subject to customary exceptions.
The sales has no material impact on the Company's operations and results.
Gazit-Globe is a leading global real estate company focused on the ownership, management and development of retail and mixed use properties in North America, Brazil, Israel, northern, central and Eastern Europe, located in urban growth 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 December 31, 2017 Gazit-Globe owns and operates 112 properties, with a gross leasable area of approximately 2.6 million square meters and a total value of approximately NIS 36.9 billion. In addition, the Company owns 32.6% of First Capital Realty Inc and following this sale 4.8% of Regency Centers Corporation.
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Gazit-Globe Headquarters, Tel-Aviv, Israel, Tel: +972 3 6948000
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