Germany’s Aroundtown and TLG Immobilien are examining a merger to create a pan-European commercial real estate market leader worth 25 billion euros ($28 billion), reported Reuters.
TLG Immobilien on Sunday said it bought a 9.99% stake in rival Aroundtown from its largest shareholder, Avisco Group for about 1.02 billion euros, adding the deal would immediately add to its funds from operations per share.
TLG, which had properties worth 4.6 billion euros in its portfolio at the end of June, also entered into an option to acquire up to 4.99% additional stake in Aroundtown from Avisco that could be exercised prior to the end of February 2020.
“Today’s announcement is the first step to enable the potential creation of a pan-European commercial real estate market leader, focused on Germany and the Netherlands and geared towards offices and hotels, which are the most attractive segments in commercial real estate,” Avisco said in a statement. After this sale, its stake in Aroundtown was reduced to 17%.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
FCC Votes to Restore Net Neutrality Rules
Apr 25, 2024 by
nhoch@pymnts.com
Apple Rejects Spotify’s Updated App Over In-App Pricing Disclosure
Apr 25, 2024 by
CPI
FCC Set to Reinstate Net Neutrality Rules Today
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI