Chaim Katzman takes full control of Citycon and delists it from the stock exchange

Chaim Katzman's G City has reached a 91% stake in the tender offer for Citycon shares. The company will activate a squeeze-out mechanism and delist Citycon from trading on the Helsinki Stock Exchange. G City, which focuses on the acquisition, development, and management of supermarket-anchored urban centers, reported that shareholders holding approximately 2.2 million Citycon shares—about 1.19% of the share capital—responded to the tender offer.

Consequently, G City's stake in Citycon is expected to reach approximately 91.05%. The total consideration to be paid to shareholders who accepted the offer is expected to be about 6.3 million euros (approximately 22 million shekels). Citycon owns and manages commercial centers in Finland, Norway, Sweden, Denmark, and Estonia. As of June 30, 2026, the company holds 31 assets valued at approximately 3.8 billion euros with a leasable area of about 1 million square meters. Additionally, Citycon holds assets intended for sale valued at approximately 787 million euros, which are debt-free, with the exception of one secured loan totaling 90 million euros.

Chaim Katzman, founder and CEO of G City, stated:

«The successful execution of the tender offer, which allows us to activate the squeeze-out mechanism leading to the privatization of Citycon and its delisting from the Helsinki Stock Exchange, is a crucial step in our strategic plan for business focus, creating synergies, and streamlining control over our assets. This will reduce management costs, increase efficiency, and improve access to capital and debt markets in Europe and globally. We are convinced that the ongoing asset improvement process will continue, alongside our policy of selling non-core assets and further reducing the group's leverage.»