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    GCT   IL0001260111

G CITY LTD

(GCT)
  Report
End-of-day quote TEL AVIV STOCK EXCHANGE  -  2022-12-07
13.27 ILS   -3.00%
11/23G City : Q3 2022 - Presentation
PU
11/23G City : Thired Quarter
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11/16G City Ltd Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
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Gazit Globe Ltd completed the acquisition of remaining 26.2% stake in Atrium European Real Estate Limited from Letko, Brosseau & Associates Inc. and others.

02/18/2022 EST

Gazit Globe Ltd (TASE:GZT) made a proposal to acquire remaining 26.2% stake in Atrium European Real Estate Limited (WBAG:ATRS) from Letko, Brosseau & Associates Inc. and others for approximately €350 million on August 2, 2021. Gazit Globe Ltd entered into definitive merger agreement to acquire remaining 26.2% stake in Atrium European Real Estate Limited (WBAG:ATRS) from Letko, Brosseau & Associates Inc. and others on October 18, 2021. As a part of transaction, Gazit Globe will pay €3.35 per share for the remaining shares of Atrium European Real Estate Limited. As a part of transaction, Gazit Globe will pay €3.63 per share for the remaining shares of Atrium European Real Estate Limited. Consideration will be paid in cash. The shares of Atrium currently listed and admitted to trading on the Amsterdam Stock Exchange and the Vienna Stock Exchange and will be delisted from both stock exchanges after the effective date of the Merger.

An independent committee of the Board of Directors of Atrium will review and consider the proposal. The deal is subject to approval from shareholder of Atrium European Real Estate Limited. As of August 17, 2021, Letko, Brosseau & Associates Inc. urge the Board of Directors of Atrium to vote against the offer. As on November 23, 2021, The Independent Committee continues to unanimously recommend that Atrium Shareholders vote in favour of the Merger. As of December 23, 2021, Atrium shareholders approved the transaction. As of January 14, 2022, Atrium is pleased to announce that no objections were received from Atrium creditors or Atrium Shareholders. Transaction is expected to close in early 2022. Transaction is expected to close on February 18, 2022 and long stop date is April 17, 2022.

UBS AG, London Branch acted as fairness opinion provider and financial advisors to the independent board committee. Allen & Overy LLP acted as legal advisor to Atrium European Real Estate Limited in the deal. Appleby as Jersey law legal advisers to the Independent Committee. Goldman Sachs Israel LLC acted as financial advisor, Kirkland & Ellis International LLP acted as legal advisor and Ogier Legal Limited Partnership acted as legal advisor to Gazit Globe Ltd in the deal.

Gazit Globe Ltd (TASE:GZT) completed the acquisition of remaining 26.2% stake in Atrium European Real Estate Limited (WBAG:ATRS) from Letko, Brosseau & Associates Inc. and others on February 18, 2022. Atrium Shares will be delisted from the Amsterdam Stock Exchange and the Vienna Stock Exchange from February 18, 2022, or as soon as possible.


ę S&P Capital IQ 2022
Stocks mentioned in the article
ChangeLast1st jan.
G CITY LTD -3.00% 13.27 End-of-day quote.-46.03%
All news about G CITY LTD
11/23G City : Q3 2022 - Presentation
PU
11/23G City : Thired Quarter
PU
11/16G City Ltd Reports Earnings Results for the Third Quarter and Nine Months Ended Septemb..
CI
09/19G City Ltd(TASE:GCT) dropped from FTSE All-World Index
CI
09/06G CITY LTD : Ex-dividend day for interim dividend
FA
08/22G City Ltd Reports Earnings Results for the Second Quarter and Six Months Ended June 30..
CI
07/07Citycon Oyj : Managers' Transactions
AQ
07/07Citycon Oyj : Flagging notification in accordance with Chapter 9 Section 10 of the Finnish..
AQ
06/06G CITY LTD : Ex-dividend day for interim dividend
FA
05/24G City Ltd Reports Earnings Results for the First Quarter Ended March 31, 2022
CI
More news
Analyst Recommendations on G CITY LTD
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Financials
Sales 2021 2 337 M 683 M 683 M
Net income 2021 646 M 189 M 189 M
Net Debt 2021 19 977 M 5 841 M 5 841 M
P/E ratio 2021 5,79x
Yield 2021 4,96%
Capitalization 2 155 M 630 M 630 M
EV / Sales 2020 11,4x
EV / Sales 2021 10,1x
Nbr of Employees 788
Free-Float 48,4%
Chart G CITY LTD
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Technical analysis trends G CITY LTD
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 13,27 ILS
Average target price 30,00 ILS
Spread / Average Target 126%
Managers and Directors
Chaim K. Katzman Vice Chairman & Chief Executive Officer
Adi Jemini Chief Financial Officer & Deputy CEO
Ehud Arnon Chairman
Oren Hod Vice President-Operations & Deputy CEO
Zvi Gordon Chief Investment Officer & VP-Investments