Nov 19 (Reuters) - Germany’s TLG Immobilien said on Tuesday it will merge with Aroundtown SA 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. (Reporting by Juby Babu in Bengaluru Editing by Leslie Adler)