S&C Represents TLG Immobilien in Purchase of Stake in AroundtownSeptember 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.