Moody's Investors Service (Moody's) has today confirmed Atrium European Real Estate Limited (Atrium)'s Baa3 long term issuer and senior unsecured ratings. At the same time, Moody's has changed the outlook to positive from ratings under review. A full list of affected ratings can be found at the end of this press release.
TEL AVIV, Israel, July 30, 2019 -- Gazit-Globe Ltd. (TASE: GZT) (the “Company” or “Gazit”), a leading global real estate company focused on the ownership, management and.
Gazit Globe Ltd. (GZT.TA) (the “Company” or “Gazit”), a leading global real estate company focused on the ownership, management and development of retail and mixed use properties in major urban markets, announced today that it has entered into a definitive agreement to acquire all of the issued shares it does not currently own of its publicly-traded Jersey Island subsidiary, Atrium European Real Estate Limited (“Atrium”), at a price of 3.75 Euros per share and which equates to gross consideration of 565 million Euros (approximately NIS 2.2 billion), to be paid solely in cash. The shares subject of the offer comprise approximately 150 million shares or 40% of Atrium’s outstanding share capital. In parallel, Gazit has entered into an agreement pursuant to which, upon closing, the Company will sell to Menora Mivtachim up to approximately 12% of Atrium’s outstanding shares at an identical price to the price at which the Company is acquiring those shares, for total consideration of approximately 150 million Euros (approximately NIS 600 million) after adjustments to the purchase price.
Continuous Improvement in the Operational and Financial Parameters Increase of 7.0% in the proportionate NOI in six months ended June 30, 2019 ("Period") compared to the same.
Moody's Investors Service ("Moody's") has today placed under review for downgrade the Baa3 issuer rating and the Baa3 senior unsecured bond rating of Atrium European Real Estate Limited ("Atrium"). The review follows the announcement on 23 July 2019 that an agreement has been reached between an independent committee of the board of directors of Atrium and an entity controlled by Gazit-Globe Limited (Gazit) about the conditions for a cash acquisition of the share capital of Atrium that is not already owned by Gazit or its subsidiaries.