Gazit-Globe, Ltd. (TASE:GZT) reached an agreement to acquire remaining 15.35% stake in Gazit-Globe Israel Ltd. from Ronen Ashkenazi on May 8, 2016. Upon completion, Gazit-Globe will hold 100% stake in Gazit-Globe Israel. Additionally, it was agreed that Ronen Ashkenazi will no longer be the Chief Executive Officer of Gazit-Globe Israel and that Gazit-Globe Israel will sell to Ronen Ashkenazi its rights in properties: an office building in Israel and two other properties, one in Bulgaria and one in Macedonia, assets which are not central for the Gazit-Globe’s operations. Yaron Eshel, Deputy Chief Executive Officer will be appointed Chief Executive Officer of Gazit-Globe Israel. Gazit-Globe, Ltd. (TASE:GZT) completed the acquisition of remaining 15.35% stake in Gazit-Globe Israel Ltd. from Ronen Ashkenazi in December 2016.