Gazit Globe to acquire remaining minority interests in Atrium for €565m.

Gazit Globe, a leading global real estate company focused on the ownership, management and development of retail and mixed use properties, agreed to acquire remaining 40% minority interests in its publicly-traded Jersey Island subsidiary Atrium for €565m ($634m). Chaim Katzman, Gazit’s founder and CEO, commented: “Atrium possesses a high-quality portfolio, most of which is located in the capital cities of Poland and the Czech Republic—Warsaw and Prague—together with a high-quality, experienced management team. Gazit acquired a material stake in Atrium 11 years ago and is thus very familiar with the company, its assets and their future potential. Direct ownership over assets such as those held by Atrium furthers our strategy to directly own irreplaceable assets in densely populated urban areas with future growth potential and mixed uses.”