JERUSALEM, Jan 6 (Reuters) - Israeli real estate developer
Gazit-Globe GZT.TA said on Wednesday it sold a 2.9 percent
stake in Canadian unit First Capital Realty (FCR) FCR.TO for
C$117 million ($83 million).
The sale of 6.5 million shares was made on the Toronto Stock
Exchange at C$18.0 per share. Upon completion of the sale,
Gazit-Globe GZT.N will hold 88.6 million FCR shares for a 39.3
percent stake.
Last week, it raised 604 million shekels ($153 million) in a
share offering in Tel Aviv, saying it would use the proceeds to
refinance its debt and for general purposes. A month ago, the
company sold 4.2 million shares of U.S. unit Equity One EQY.N (N:EQY)
in a secondary share offering.
"These actions will increase our financial flexibility and
create a capital base for future investments," said Rachel
Lavine, Gazit-Globe's chief executive.
($1 = 1.4090 Canadian dollars)
($1 = 3.9381 shekels)
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Gazit-Globe sells 2.9 pct stake in Canada unit FCR for C$117 mln
Published 2016-01-06, 04:30 a/m
Gazit-Globe sells 2.9 pct stake in Canada unit FCR for C$117 mln
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