Gazit Globe to acquire a minority stake in Atrium European Real Estate.

Gazit Globe, a global real estate company, agreed to acquire a minority stake in Atrium European Real Estate, a construction company. The offer represents a price of $3.78 per share. "The contemplated merger will bring Gazit closer to Atrium’s assets and will enhance the operational flexibility within the Group with regards to real estate operations, construction and development of existing properties, and cash flow and financing of assets. We believe that once Atrium becomes a privately-held company owned by Gazit we will be able to generate value through synergies both operationally and in terms of financing and the capital markets. The unification of the Group’s assets under a “single roof” will enable us to create a streamlined international brand and even further strengthen our ties with major international brands and tenants," Chaim Katzman, Gazit Globe Founder and CEO.