Sale of TLG commercial properties seen by year-end - sources

BERLIN/FRANKFURT Mon Nov 19, 2012 5:31am EST

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BERLIN/FRANKFURT Nov 19 (Reuters) - The sale of German TLG Immobilien's commercial property unit will likely be wrapped up by year-end, two sources told Reuters on Monday after TAG Immobilien said it would buy the residential arm of the state-owned firm.

"Talks are on a good path," said a financial source. A government source added that the sale of TLG's commercial properties had not yet been decided.

Separately the German finance ministry said the sale of TLG Immobilien was in its final phase and that the sale was expected to be completed in the coming weeks.

Earlier, TAG Immobilien said it would buy TLG Wohnen GmbH for 471 million euros ($598 million) including debt. (Reporting by Klaus Lauer and Alexander Huebner, writing by Annika Breidthardt)