Navigate this market better. Subscribe for FREE stock alerts and information.

Monday, March 21, 2011

Israel's Gazit-Globe raises stake in Equity One, (GLOB), (NYSE: EQY), (ALHE)

Israeli real estate investment firm Gazit-Globe (GLOB.TA) has purchased 2 million shares of Equity One Inc (EQY.N) from Alony Hetz Properties (ALHE.TA) for $36.5 million. Gazit-Globe said on Monday the purchase of the 1.88 percent stake in Equity One would raise its holding in the U.S. shopping centre developer to 45.3 percent. The price paid of $18.25 per share was slightly above Friday's close of $18.15. Gazit-Globe, which began operating in North America 20 years ago, is Israel's largest real estate investment firm. (Reporting by Tova Cohen. Editing by Jane Merriman)

Source