Israeli investor to buy rest of Atrium for €565m

Israeli real estate developer Gazit Globe has agreed to acquire the remaining 40% stake in Atrium European Real Estate for €565m (£508m).

The price reflects an 18% premium to Atrium’s most recent closing share price of €3.17.

Gazit Globe will also sell a 12% stake in Atrium to Israeli insurer Menora Mivtachim Holdings for €150m.

Ahead of the deal completing, Atrium plans to distribute a special dividend of €0.60 per share, which would reduce the price paid by Gazit Globe by an equal amount.

The deal is expected to complete in January 2020.

To send