FBC represented Menora Mivtachim Insurance Ltd. and Menora Mivtachim Pensions and Gemel Ltd. in the negotiation of a co-investment agreement, pursuant to which Menora has agreed to purchase up to 12% of the share capital of Atrium European Real Estate Limited for a total purchase price of EUR 150 million in cash.
Atrium is a leading owner and manager of food- & fashion-anchored shopping centers in Central and Eastern Europe, indirectly majority owned by Gazit Globe Ltd. and its shares are currently traded on the Vienna Stock Exchange and the Euronext Amsterdam Stock Exchange. The transaction is proposed to be consummated immediately following a court approved “Scheme of Arrangement” under Jersey law, pursuant to which Gazit will purchase all of the share capital of Atrium currently held by the public and Atrium will cease to be a public company. The transaction is expected to close in early 2020.
