The merger agreement, signed between the companies about two months ago, was approved by a majority of about 97% of the shareholders and also by a majority of about 72% of the minority shareholders of Atrium. As part of the deal, which is expected to be completed in the first quarter of next year, Atrium’s minority shareholders will sell their shares (25%) for 376 million euros – in a deal that will increase Gazit Globe’s 100% holding in Atrium.
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Atrium – managed by Liad Barzilai and traded on the Vienna and Amsterdam stock exchanges worth about 1.2 billion euros – is engaged in the acquisition, improvement and management of shopping centers in Central and Eastern Europe, mainly in the cities of Warsaw and Prague. As of the end of the second quarter of the year, the company held 26 income-producing properties with a total area of approximately 810,000 square meters, and the company’s balance sheet amounted to approximately 3.3 billion euros.