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Fiskars $FKRAF Sells European Plastic Pottery Business to @Elho_Olaf

Fiskars $FKRAF Sells European Plastic Pottery Business to @Elho_Olaf

“An elho pot with a beautiful plant brings happiness everywhere, whether it is placed in a New York office or in the living room of the tiniest apartment in London.” –ELHO elho_outdoors With over 50 years of experience in making synthetic pottery and related products, Elho is well positioned to further invest in the Ebertsankey brand and business to bring value to customers and consumers. “Fiskars Group continuously simplifies structures and increases focus on selected businesses and brands,” the company said in a statement. “This divestment will allow Fiskars to continue to strengthen its focus on its core businesses and drive the company forward as an integrated consumer goods company.” The sale is not expected to have a significant impact on Fiskars Corporation’s financial position or result during 2016. The deal is expected to close before the end of 2016, subject to customary closing conditions. Photo: Olaf Elderenbosch, Elho co-owner and co-CEO.]]>

Gazit-Globe $GZT Sells Brazil Mall Stake, Buys $47M Avenida Paulista Property

Gazit-Globe $GZT Sells Brazil Mall Stake, Buys $47M Avenida Paulista Property

Gazit-Globe (NYSE: GZT) (TSX: GZT) (TASE: GZT), the largest Israeli global real estate development company with a market capitalization of $1.78 billion, said it has sold part of its stake in Brazil’s BR Malls for close to $53 million, decreasing its stake to below 5%. The value of the shares of BR Malls as of June 30, 2016, reflects a realized gain of 40 million shekels, and an unrealized gain of approximately 90 million shekels on the remaining unsold shares, the company said, representing an overall profit of $34 million. The company’s subsidiary Gazit Brasil used the sale proceeds to acquire an office building and parking garage at Top Center Shopping in Sao Paulo, Brazil for 153 million Brazilian Reals ($47 million). Top Center Shopping is an urban mixed use property, which includes a shopping center, an office building and a 370 car parking garage on Paulista Avenue, a landmark avenue in the heart of Sao Paulo, Brazil’s main business and financial center. More than 1.5 million Sao Paulo residents commute daily to Paulista Avenue, home to a large number of financial institutions. Paulista Avenue, which was inaugurated in 1891, is generally regarded as one of the most expensive real estate locations in South America. The 2.8 km thoroughfare is notable for headquartering a large number of financial and cultural institutions, as well as being home to an extensive shopping area and to South America’s most comprehensive fine-art museum, MASP. avenida_paulistaThe office building comprises 17 stories and has a gross leasable area (GLA) of approximately 13,450 square meters. The building is occupied by major tenants, including the Consulate of Japan, Dow Jones, Procter & Gamble, Goodyear and others. “The NOI of the shopping center, which currently enjoys 100% occupancy, increased by 30% since it was acquired by Gazit Brasil in September 2014, as a result of pro-active management of its wholly owned subsidiary, Gazit Brasil, managed by Mia Stark, its CEO,” the company said in a statement. With the closing of this transaction Gazit Brasil will own and operate 9 assets with a total GLA of approximately 125,000 square meters and a total value of R$ 1.4 billion ($440 million), it said. “We are pleased to show an impressive profit from our investment in BR Malls, and will continue to explore the possibilities for the sale or purchase of additional shares based on market conditions and the alternatives for direct investment in real estate,” said Rachel Lavine, CEO of Gazit-Globe. “The acquisition of the office building and the underground garage provides us with an opportunity to expand the shopping center space and create operational synergies, converting some office space into retail units, improving the shopping center area and utilizing to greater efficiency,” she added. Gazit-Globe is one of the largest owners, developers and operators of predominantly supermarket-anchored shopping centers in major urban markets around the world. As of March 31, 2016, Gazit-Globe owns and operates 439 properties in more than 20 countries, with a gross leasable area of approximately 6.5 million square meters and a total value of more 80 billion shekels. Gazit-Globe operates in the United States through a stake in Equity One (NYSE: EQY) and in Canada through First Capital Realty Inc (TSX: FCR). It is the largest shareholder in Finland’s Citycon Oyj (HEX: CTY1S) (OMX: CTY) and controls European shopping mall developer Atrium European Real Estate (VSX: ATRS). GAZIT-GLOBE HISTORY Gazit-Globe was founded in 1982. Since May 1991, the company has been controlled by Chaim Katzman, a graduate of Tel Aviv University Law School, who trained as a lawyer and in 1979 moved to South Florida, where he became involved in the development and management of commercial and residential real estate. He is a well-known philanthropist and supporter of education and the arts in the United States and abroad. Katzman is the chairman of Gazit-Globe and its parent Norstar, formerly Gazit Inc. In June 2010, he was appointed chairman of Citycon Oyj. He also serves as chairman of Equity One and as a director of First Capital Realty. In 2008, he became chairman of Atrium European Real Estate. During the 1980s he started developing his real estate business in Israel, and was able to consolidate his holding in Gazit-Globe, at the time a corporate shell with no business operations. The holding in Gazit-Globe enabled Katzman to draw investors to help him acquire additional retail centers, and it became a vehicle to raise capital for further property and business acquisitions. In 1992, Katzman formed Equity One as a partially owned subsidiary of Gazit, operating as a real estate investment trust (REIT). In 1998 Equity One went public through an IPO on the New York Stock Exchange, with Gazit-Globe retaining a large ownership stake. In 2004 Gazit acquired 33% of Citycon, a Finnish public company focused on commercial real estate in the Nordic region. Gazit subsequently increased its stake in Citycon to 47%. In August 2008 Gazit-Globe acquired troubled European property developer Meinl European Land (VSX: MELV), and invested 800 million euros into the company, through a joint venture with Citigroup’s (NYSE: C) real estate investment arm, Citi Property Investors (CPI). Following the takeover, Meinl’s name was changed to Atrium European Real Estate Ltd and a new board of directors and management were appointed. The move strengthened Gazit’s foothold in the Eastern European and Russian markets. In 2010, New York private equity firm Apollo Global Management (NYSE: APO) acquired Citigroup’s CPI, including its joint venture stake in Atrium. In January 2015, Apollo sold its 13.9% Atrium stake to Gazit-Globe for 229 million euros, increasing Gazit-Globe’s controlling stake in Atrium to 55%. In December 2011, Gazit-Globe made an initial public offering on the New York Stock Exchange, raising $81 million. In October 2013, Gazit-Globe listed its shares on the Toronto Stock Exchange. Photo: Chaim Katzman, Chairman of Gazit-Globe, Equity One, First Capital Realty (2000-2015), Atrium European Real Estate, and Citycon Oyj.]]>

Tencent to Acquire @SupercellGames From @Softbank in $10.2B Deal

Tencent to Acquire @SupercellGames From @Softbank in $10.2B Deal

impending sale of Supercell were reported by ExitHub last month. SoftBank first acquired a 51% stake in Supercell for $1.5 billion in October 2013. Supercell had previously raised $12 million in a Series A funding round led by Accel Partners in 2011, and $130 million in a Series B round led by Index Venures and Institutional Venture Partners (IVP) in April 2013. Following the transaction, Supercell will be owned by the Tencent consortium and by Supercell’s employees who will take part in a new long-term incentive plan, and will be able to sell their vested shares annually to Tencent. Supercell will retain its independent operations, the headquarters will remain in Helsinki, Finland and its existing team will continue to run all of the company’s operations. The deal is expected to close during the third calendar quarter of 2016, subject to customary regulatory approvals and closing conditions. Following the closing, Tencent expects to maintain a voting interest of 50% in its investment consortium. Tencent said it “will not consolidate or equity-account for its investment in the consortium,” adding that “this structure will give existing Supercell management maximum independence in order to incentivize and drive future performance, while enabling Supercell to access all of Tencent’s expertise and user base.” In parallel to the transaction, Tencent and Supercell have entered into marketing and publishing arrangements regarding the distribution of games developed by Supercell in China. “Tencent represents the ideal partner to take Supercell’s business to the next level. Our decision to divest our shares is driven by our continued focus on monetization for the benefit of our shareholders and on capital structure discipline, both key pillars of our SoftBank 2.0 strategy,” said SoftBank’s chairman and CEO Masayoshi Son, the second richest person in Japan. Supercell CEO Ilkka Paananen noted that “this new partnership offers us exciting growth opportunities in China, where we will be able to reach hundreds of millions of new gamers via Tencent’s channels.” “We are excited that Supercell is joining our global network of game partners, and will preserve their independence and enhance their advantages, thus bringing even more exciting gaming experiences to players around the world,” said Tencent president Martin Lau. “It is important to us that Supercell stays true to its roots by sustaining its unique culture, continuing to be headquartered in Finland, and representing its home proudly.” Morgan Stanley & Co. International plc served as financial advisor and Fenwick & West LLP and White & Case LLP as legal advisors to Supercell. The Raine Group LLC served as financial advisor and Morrison & Foerster LLP and Hannes Snellman as legal advisors to SoftBank. BofA Merrill Lynch served as financial advisor and Covington & Burling LLP and Slaughter and May as legal advisors to Tencent. Tencent was founded in Shenzhen in 1998 and went public on the Main Board of the Hong Kong Stock Exchange in 2004. The company is one of the constituent stocks of the Hang Seng Index. Tencent’s diversified services include QQ, Weixin, WeChat, Qzone and Tencent, serving hundreds of millions of Internet users through its integrated communications, social networking, online gaming, news and video platforms. SoftBank Group Corp. is a Japanese multinational telecommunications and Internet corporation, with operations in broadband, fixed-line telecommunications, e-commerce, Internet, technology services, finance, media and marketing, and other businesses. The company was founded in 1981 and is headquartered in Tokyo, Japan. In May 2015, SoftBank was ranked in the Forbes Global 2000 list as the 62nd largest public company in the world. Between 2009 and 2014, SoftBank’s market capitalization increased by 557%, the fourth largest relative increase in the world over that period. At the beginning of 2015, the company was the third largest public company in Japan after Toyota and Mitsubishi UFJ Financial. As of May 13, 2016, SoftBank had a market capitalization of US$61.57 billion.]]>