TEL-AVIV, Israel, Sept. 28, 2014 (GLOBE NEWSWIRE) -- Gazit-Globe (NYSE:TSX) (TASE:GZT), one of the world's leading multi-national real estate companies focused on the acquisition, development and redevelopment of supermarket-anchored shopping centers in major urban markets, announced today a private placement of shares and warrants convertible into shares for approximately US$ 32 million and up to a total of approximately US$ 94 million, assuming the full exercise of the warrants. As part of the offering, the company will issue 2.4 million shares at US$ 13.25 per share, for US$ 31.8 million, of which 1,700,000 shares will be issued to a third-party institutional investor and 700,000 shares will be issued to Norstar Holdings, the company's largest shareholder. In addition, the company will issue 4,800,000 warrants at an exercise price of US$ 13.00 per share, of which 3,400,000 warrants will be issued to the third-party institutional investor and1,400,000 warrants will be issued to Norstar Holdings. The exercise period for the warrants will be until December 29, 2014. The additional funds received by the company, assuming the full exercise of the warrants, will be US$ 62.4 million. The closing of the private placement is subject to the receipt of regulatory approvals and includes other conditions as disclosed in the company's public disclosures. About Gazit-Globe Gazit-Globe is one of the largest owners, developers and operators of predominantly supermarket-anchored shopping centers in major urban markets around the world. 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-25 and Real-Estate 15 indices in Israel. Gazit-Globe owns and operates 561 properties in more than 20 countries, with a gross leasable area of approximately 6.6 million square meters and a total value of approximately US$ 22 billion.
FORWARD-LOOKING STATEMENTSThis 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.
CONTACT: Investors Contact: IR@gazitgroup.com, Media Contact: email@example.com Gazit-Globe Headquarters, Tel-Aviv, Israel, Tel: +972 3 694 8000 / New York Office, Tel: +1 212 897 9741