TLG Immobilien mulls Aroundtown merger after buying stakes worth $1bn


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TLG Immobilien mulls Aroundtown merger after buying stakes worth $1bn

On Sunday, the 1st of September 2019, German real estate firm, TLG Immobilien, headquartered in Berlin, announced a public statement saying that the real estate firm had been exploring an option of a potential merger deal with Luxembourg-based real estate company, Aroundtown SA, In point of fact, latest comments from the Berlin-based real estate firm TLG Immobilien came into being a few days after the company had purchased roughly 10 percent Aroundtown stake at a € 1.02 billion deal (£925.8 million).

Aside from that, followed by the completion of state-purchase in the Luxembourg-based real estate company, Aroundtown, from its largest stakeholder, Avisco Group, TLG had been quoted saying later on Sunday (September 1st) that the deal would be effective immediately, while under the financial terms of latest deal for the German real estate firm, which had €4.6 billion worth of net asset by June 30th, TLG had also inked an option agreement to acquire up to 4.99 per cent stake in Aroundtown from Avisco.

Meanwhile, expressing sheer optimism over the deal, Avisco, whose stake in Aroundtown was reduced to 17 per cent following stake-sale, said in a statement on Sunday (September 1st) upon completion of the deal, “Today’s announcement is the first step to enable the potential creation of a pan European commercial real estate market leader, focused on Germany and the Netherlands and geared towards offices and hotel, which are the most attractive segments in commercial real estate. ”