Germany's Aroundtown and TLG Immobilien agree on all share merger
11/19/2019
(Reuters) – Germany’s TLG Immobilien (TLGG.DE) said on Tuesday it will merge with Aroundtown SA (AT1.DE) in an all-share transaction.
TLG shareholders will receive 3.6 Aroundtown shares for each TLG share, the company said in a statement.
Ouram Holding S.à r.l., TLG’s largest shareholder, has committed to tender its approximately 28% stake in TLG in the deal, the company said.
The combined company will have pre-tax improvements in funds from operations of 110 million euros to 139 million euros per year within five years post-merger, the statement added.
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Home » Analysis & Comment » Germany's Aroundtown and TLG Immobilien agree on all share merger
Germany's Aroundtown and TLG Immobilien agree on all share merger
(Reuters) – Germany’s TLG Immobilien (TLGG.DE) said on Tuesday it will merge with Aroundtown SA (AT1.DE) in an all-share transaction.
TLG shareholders will receive 3.6 Aroundtown shares for each TLG share, the company said in a statement.
Ouram Holding S.à r.l., TLG’s largest shareholder, has committed to tender its approximately 28% stake in TLG in the deal, the company said.
The combined company will have pre-tax improvements in funds from operations of 110 million euros to 139 million euros per year within five years post-merger, the statement added.
Source: Read Full Article