Analyst Research

Report Title Price
Provider: Reuters Investment Profile
$20.00
Provider: Thomson Reuters StreetEvents
$75.00
Provider: Thomson Reuters StreetEvents
$75.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

TAG Immobilien AG to Acquire TLG Wohnen GmbH; Announces Capital Increase


Monday, 19 Nov 2012 05:40am EST 

TAG Immobilien AG announced that on November 19, 2012, the Federal Republic of Germany accepted the bid of TAG Immobilien AG (TAG) to acquire TLG Wohnen GmbH (TLG Wohnen). The purchase price for the acquisition is EUR 471 million and includes the roll-over of liabilities of TLG Wohnen in the amount of approximately EUR 256 million. TLG Wohnen comprises approximately 11,350 residential units with a total floor area of approximately 697,000 square meters. The portfolio, which is almost entirely consisting of residential units, has a geographic focus on the regions of Berlin, Dresden and Rostock. TAG resolved on a capital increase against cash contributions of up to 30 million New Shares, in order to refinance the equity purchase price in the amount of approximately EUR 218 million and for financing of additional smaller acquisitions. The subscription ratio will be 17:5. The New Shares will be offered to selected domestic and international investors subject to clawback, i.e. a pro rata reduction to the extent subscription rights were exercised in the Subscription Offer. The registered share capital of EUR 100.7 million will be increased to up to EUR 130.7 million. The New Shares are to be admitted to trading immediately after registration of the capital increase with the Commercial Register, which is expected in December 2012 and shall have full dividend rights from January 1, 2012.