Following its takeover of CPI CEE Management LLC, Gazit-Globe has become a majority shareholder in Atrium Real Estate. Worth €230m, the deal includes 52 million Atrium shares, representing nearly 14 percent of the company’s capital. Joseph Azrack and Roger Orf, who were nominated by CPI CEE Management LLC to sit on the Atrium board of directors, will step down, according to a statement from the company.
Gazit-Globe CEO Roni Soffer said the deal is in line with the company’s strategy to take over real estate companies with strong management teams and healthy performances, focusing on retail investments in big cities.
