Gazit-Globe eyes NYSE offer, to merge units -reports

JERUSALEM, Dec 20 (BestGrowthStock) – Israeli real estate investment
firm Gazit-Globe (GLOB.TA: ) is looking to raise at least $200
million in a share offering on the New York Stock Exchange, the
Globes business daily said on Monday.

A separate report said Gazit-Globe was also mulling a merger
of its European units.

Globes, which did not cite sources, said Citi will likely be
the underwriter of a New York offering. It did not give further
details.

Gazit-Globe said it periodically examines various funding
options including raising funds on leading global stock
exchanges.

“At this time, the company has not made a decision regarding
an offering in New York or any other exchange,” it said in a
statement.

Gazit-Globe operates in the United States through Equity
One (EQY.N: ), through which it acquired a controlling stake in
DIM Vastgoed NV, a Dutch investment company that owns 21
shopping centres in the United States.

It operates in Canada through First Capital Reality Inc
(FCR.TO: ). It is also the largest shareholder in Finland’s
Citycon (CTY1S.HE: ) and together with Citi (C.N: ) controls
shopping mall developer Atrium European Real Estate (ATRV.VI: ).

Separately, the Calcalist financial daily said Gazit-Globe
was weighing up a plan to merge Citycon and Atrium to
consolidate its European operations. One option being considered
is Atrium buying Citycon in a share swap, Calcalist said,
without citing sources.

Gazit-Globe declined to comment, saying it did not respond
to business moves within the group.

Its shares were up 0.6 percent at midday in Tel Aviv.
(Reporting by Steven Scheer; Editing by Greg Mahlich)

Gazit-Globe eyes NYSE offer, to merge units -reports