JERUSALEM, Dec 28 (Reuters) -
* Gazit-Globe, Israel’s largest real estate company, said on Thursday it entered into a binding agreement to buy 70 percent of Brazil’s Internacional Shopping, one of the biggest shopping centres in the Sao Paulo area.
* Gazit-Globe said it will pay 937 million real ($284 million) for the stake.
* The mall, with 77,000 square meters (828,821 square feet) to rent, will be under control of Gazit Brasil, which has an option to build another 200,000 square meters.
* It is 98 percent occupied with 360 tenants including supermarkets, entertainment and food services.
* The closing of the all-cash deal is expected at the end of the first quarter, subject to various conditions. It will be financed by the company’s own resources.
* Another 20 percent of the mall is held by the unnamed seller, a public real estate firm in Sao Paulo with the remaining 10 percent owned by a financial institution.
* ($1 = 3.3149 reais) (Reporting by Steven Scheer; Editing by Tova Cohen)