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Gazit-Globe unit completes $200M sale of Regency Centers common stock

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Gazit-Globe unit completes $200M sale of Regency Centers common stock

A wholly owned unit of Gazit-Globe Ltd. closed the sale of 3.5 million shares of Regency Centers Corp. common stock, representing approximately 2.0% of the retail real estate investment trust's outstanding share capital, for roughly $57.07 per share, or a total of $200 million.

Together with the sale of 1.7 million Regency shares at $55.96 apiece earlier in May, the company has settled the sale of an aggregate of approximately $295 million worth of Regency common stock.

Gazit-Globe holds about 8.2 million shares of the REIT, representing approximately 4.8% of its outstanding share capital and voting rights.

Additionally, the company entered an agreement with the buyer to not sell additional shares of Regency for 30 days, subject to customary exceptions.