Aroundtown SA signs a merger agreement with TLG

  • Nov 19, 2019 GMT
  • Team Kalkine
  • Aroundtown SA (0RUH) has signed a binding business combination agreement with TLG that will lead it to become one of the top commercial real estate company across Europe.
  • The company will voluntarily be making a tender offer in its shares for all exceptional shares in TLG, while the TLG shareholders will get 3.6 new Aroundtown shares for every stock they owned.
  • The consideration for share swap is calculated as per EPRA NAVs per share of both companies as on June 30, 2019. The estimated operational and financial collaborations are expected to produce an annual pre-tax FFO savings of EUR 110 to EUR 139 million over time.
  • The two companies’ merged business is expected to become a frontrunner in the market of hotels and offices, with a combined asset base of over EUR25 billion.

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