July 23, 2019 / 6:32 AM / a month ago

Israel's Gazit Globe to buy rest of Atrium for 565 mln euros

TEL AVIV, July 23 (Reuters) - Israeli real estate developer Gazit Globe said on Tuesday it has agreed to acquire the remaining 40% stake in Atrium European Real Estate that it does not own for 565 million euros ($632 million).

The price reflects an 18% premium to Atrium’s most recent closing share price of 3.17 euros and a 13% premium to the average of the past 90 days.

At the same time, Gazit Globe will sell a 12% stake in Atrium to Israeli insurer Menora Mivtachim Holdings for 150 million euros. ($1 = 0.8937 euros) (Reporting by Tova Cohen, editing by Louise Heavens)

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