Sources inform ''Globes'' that Gazit-Globe Ltd. (TASE: GLOB) and Bronfman Fisher Investments Ltd. have asked the Antitrust Authority for permission to merge their mall subsidiaries, Gazit-Globe Israel Ltd. and Iris Hagilboa Construction and Development Ltd., respectively.
A merger of Gazit-Globe Israel and Iris Hagilboa would create Israel's third largest mall operator after Azrieli Group and British-Israel Investments Ltd. (TASE: BRTS).
Gazit-Globe Israel chairman Ronen Ashkenazi and IKEA Israel chairman Ron Hadasi, on behalf of its parent company, Iris Hagilboa, signed the request. The merger will initially enable the two companies to collaborate on the Me'uyan Soreq lot in Rishon LeZion, where IKEA Israel plans to build its second store, alongside a commercial development of Gazit-Globe.
Gazit-Globe Israel and Iris Hagilboa said in response, "We are examining a business collaboration. We have asked the Antitrust Authority for this purpose, and received permission for the proposed collaboration. The issue is still at the feasibility study phase."
Gazit-Globe is controlled by chairman Chaim Katzman and vice chairman Dori Segal. Matthew Bronfman and Shalom Fisher own Iris Hagilboa.
Published by Globes [online], Israel business news - www.globes-online.com - on January 1, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009