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.


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 INFORMATIONInvestors Contact:, Media Contact: press@gazitgroup.comGazit-Globe Headquarters, Tel-Aviv, Israel, Tel: +972 3 6948000

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