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.