July 26, 2018 / 6:22 AM / a year ago

Gazit-Globe sells remaining share in Regency Centers for $347 mln

TEL AVIV, July 26 (Reuters) - Israeli real estate company Gazit-Globe said on Thursday it sold its remaining 5.6 million shares of Regency Centers Corp for $61.95 a share or a total of $347 million.

This latest deal follows previous sales of 2.5 million Regency shares in June and July. Gazit-Globe said the sales totalled $502 million.

The sale of the shares is part of the company's strategy to reduce its holdings in public companies, increase its share in private real estate and reduce leverage, Gazit-Globe said in a statement.

The company said the sale will not have a significant impact on its activities or results.

Reporting by Tova Cohen, Editing by Ari Rabinovitch

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