December 12, 2012 / 9:41 AM / 5 years ago

CORRECTED-Germany sells TLG Immobilien to Lone Star - finance ministry

(Corrects third paragraph to show TLG Wohnen was sold to TAG Immobilien, and removes reference to sale of flats.)

BERLIN, Dec 12 (Reuters) - Germany is selling the commercial properties of state-owned real estate firm TLG Immobilien to private equity firm Lone Star for 1.1 billion euros, the Finance Ministry said on Wednesday.

“Finance Minister Wolfgang Schaeuble has awarded the contract for the biggest property transaction in Germany this year,” said the ministry. “The buyer wants to continue the business and strategically to develop its portfolio,” it added.

Combined proceeds from the sale of TLG Immobilien and of TLG Wohnen, which was sold last month to TAG Immobilien, will boost state coffers in 2013 by 812 million euros, said a government source. (Reporting by Gernot Heller; Writing by Madeline Chambers and Gareth Jones)

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