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TEL AVIV, Israel -- Gazit-Globe Ltd., Israel's largest real estate investment company ...
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TEL AVIV, Israel -- Gazit-Globe Ltd., Israel's largest real estate investment company ...
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Gazit-Globe Ltd., which has filed suit in its fight to gain control of Mills Corp., operator of the Pittsburgh Mills complex in Frazer, has begun a proxy battle to elect four representatives to the shopping mall developer's board of directors. Gazit-Globe, Israel's largest real estate developer, has proposed a recapitalization that would inject up to $1.2 billion into Chase, Md.-based Mills Corp., and sued to get access to the company's shareholder list. "Seventeen months have born witness to a long, steady decline in the price of the common stock," Gazit-Globe, a 9 percent shareholder, said in its proxy filing, "and we fear that without a coherent plan to retool Mills, the next seventeen months will be just as bleak for stockholders." The Gazit-Globe filing included a chart that showed...
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An Israeli real estate company announced Wednesday that it has bought a 9 percent stake in troubled Mills Corp. for $110 million and proposed to invest up to $1.2 billion in new equity contingent on Mills concluding its pending sale of Meadowlands Xanadu.
We believe Mills can and should be rebuilt, and not sold," Gazit- Globe Ltd. Chairman Chaim Katzman said in a statement. "We know how to take companies such as this and reenergize them so that maximum shareholder value is achieved.
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A top investor in Mills Corp., would-be builder of the stalled $2 billion New Jersey mall project known as Meadowlands Xanadu, sued to force the company to hold its annual meeting and also warned it not to pursue a sale.
Gazit-Globe Ltd., which owns a 9.7 percent stake in Mills, said in a regulatory filing that it wants the meeting because management has ignored Gazit's proposal to invest as much as $1.2 billion in the company. Gazit also plans to propose a new slate of directors.
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INCREASED DIVIDENDS
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COLLEGE PARK, Md. - An Israeli real estate investment firm said Wednesday it has offered to invest up to $1.2 billion to rebuild struggling mall developer The Mills Corp., saying the company should not go ahead with plans to offer itself up for sale.
Gazit-Globe Ltd. said in a Securities and Exchange Commission filing that it has acquired 9 percent of Mills' shares. The firm, Israel's largest real estate investment company, said it wants Mills' board of directors to agree to recapitalize and not go ahead with plans to sell all or part of the company.
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Financially troubled Mills Corp., majority owner of the giant Pittsburgh Mills shopping complex in Frazer, will cap a year of turmoil Friday when it holds its annual shareholders meeting in Bethesda, Md.
The meeting at the Hyatt Regency Bethesda hotel comes at a time when Mills' stock price has rebounded in the wake of a takeover bid by Gazit-Globe Ltd., Israel's largest real estate developer, and speculation it still may sell some major properties, including its stake in Pittsburgh Mills.
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Indianapolis-based mall giant Simon Property Group has apparently given up on plans to build a shopping center on East Garden City property where Avis Rental Cars used to have its headquarters.
Real estate investment trust Equity One has bought the 22 acres on Old Country Road from Indianapolis-based Simon.
...division of an Israel-based firm called Gazit-Globe Ltd. The purchase price for Westbury Plaza, ...
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..., Israel -- Gazit Globe Israel (Development) Ltd., a subsidiary of Gazit Globe Ltd. (TASE: GLOB), a...