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Transactions - SEPTEMBER 10, 2019

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TLG Immobilien buys stake in Aroundtown, considers merger

by Kali Persall

TLG Immobilien has purchased a 10 percent stake in German real estate company Aroundtown for €1.02 billion ($1.1 billion) and is now considering a potential merger with the rival company.

According to Reuters, TLG bought the stake in Aroundtown from its largest shareholder, Avisco Group, and entered into an option agreement to purchase an additional 5 percent stake in the company, making it the largest shareholder in Aroundtown.

As of March 31, TLG had €4.1 billion ($4.5 billion) worth of assets in its portfolio.

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