Israel-based global income producing real estate company Gazit-Globe Ltd. (NYSE: GZT; TASE: GZT; TSX: GZT) has announced that its subsidiaries have completed the sale of Regency Centers Corporation (NYSE:REG) for $200 million (NIS 713 million). Gazit-Globe sold 3.5 million Regency shares, a 2% stake in the company, for $57.07 per share. Earlier this month, Gazit-Globe sold Regency shares worth $95 million.
Gazit-Globe still 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 sale has no material impact on the Company's operations and results.
Gazit-Globe focuses on the ownership, management and development of retail and mixed use properties in urban markets. Chaim Katzman is the company's CEO.
Published by Globes [online], Israel business news - www.globes-online.com - on May 24, 2018
© Copyright of Globes Publisher Itonut (1983) Ltd. 2018