S&C Represents TLG Immobilien in Purchase of Stake in Aroundtown

September 4, 2019

German real estate firm TLG Immobilien acquired a 9.99% stake in Luxemburg-based Aroundtown from Avisco Group, the largest shareholder of Aroundtown, for €1.016 billion. As part of this deal, which was completed September 1, TLG also en­tered into an op­tion agree­ment for a fur­ther stake of up to 4.99% in Aroundtown.
 
The deal was led by M&A partners Carsten Berrar and Konstantin Technau in Frankfurt and includes partner Max Birke (Frankfurt) for financing and partner Michael Rosenthal (Brussels), co-head of the S&C's Antitrust Group.
 
In connection with this deal, TLG and Around­town have stated that they will eval­u­a­te a po­ten­tial merger. The combined companies would create a leading Eu­ro­pean com­mer­cial real es­tate com­pany, with a pri­mary fo­cus on of­fices and ho­tels in Ger­many and the Nether­lands. For over 25 years, TLG has owned and rented out com­mer­cial prop­er­ties in Ger­many and holds a portfolio of prop­er­ties worth €4.6 billion.