March 1 (Reuters) - Gazit Globe Ltd GZT.TA :
* GAZIT GLOBE ANNOUNCES ENTRY INTO STRATEGIC TRANSACTION FOR THE SALE OF THE MAJORITY OF ITS STAKE IN FIRST CAPITAL REALTY FOR APPROXIMATELY CAD $1.2 BILLION
* IF COMPLETED, GAZIT'S OWNERSHIP INTEREST IN FCR WOULD BE REDUCED FROM APPROXIMATELY 31.3% CURRENTLY TO APPROXIMATELY 9.9%
* PROSPECTIVE SALES WILL BE CARRIED OUT VIA TWO, PARALLEL TRANSACTIONS
* FOLLOWING BUY BACK AND BOUGHT DEAL TRANSACTION, GAZIT WILL OWN APPROXIMATELY 21.6 MILLION COMMON SHARES OF FCR
* FCR WILL PURCHASE FROM GAZIT APPROXIMATELY 36 MILLION SHARES FOR GROSS PROCEEDS OF APPROXIMATELY CAD $742 MILLION
* AT TIME OF SIGNING OF BUY-BACK AGREEMENT, FCR WILL PAY GAZIT CAD $3.0 MILLION