TLG real estate

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TLG Immobilien AG

logo
legal form Corporation
ISIN DE000A12B8Z4
founding 1991
Seat Berlin , GermanyGermanyGermany 
management
  • Barak Bar-Hen, CEO
  • Gerald Klinck, COO
  • Jürgen Overath, CFO
Number of employees 132
sales 271.4 million euros (2018)
Branch Real estate company
Website www.tlg.de
As of December 31, 2018

The TLG Immobilien AG (own notation: TLG IMMOBILIEN ) is a German publicly listed real estate company based in Berlin , which on Commercial specializes real estate in Germany. Business areas are the rental, administration, purchase and sale as well as the development of office, retail and hotel properties.

history

founding

The company was founded in 1991 as a subsidiary of the Treuhandanstalt . The Treuhand Liegenschaftsgesellschaft mbH (TLG) was responsible for the administration, exploitation and development of the other real estate portfolios (mainly industrial areas, office and residential properties ) in the new federal states owned by the Treuhandanstalt.

In 1995 the federal government took over the shares in the company, which was named TLG Treuhand Liegenschaftsgesellschaft. In 2002 the company was renamed TLG Immobilien GmbH. TLG has three branches: Berlin / Brandenburg , Mecklenburg-Western Pomerania and South for Saxony , Saxony-Anhalt and Thuringia . Since the company owns real estate on the banks of the Spree in the Friedrichshain-Kreuzberg district , it is a member of the Mediaspree investor project , which supports the economic use of the area. The TLG Immobilien portfolio was originally differentiated according to types of use. The largest segment in terms of market values ​​was residential real estate, followed by retail and office real estate.

According splitting agreement dated 29 November 2011, the TLG Immobilien GmbH transferred the business residential property with effect from 1 January 2012 by way of spin-off to § 123 para. 2 no. 1 UmwG to the TLG Wohnen GmbH . At the end of November 2012, TAG Immobilien AG acquired the shares in TLG Wohnen.

Privatization and IPO

In December 2012, the Federal Ministry of Finance sold TLG Immobilien GmbH (i.e. the company with the commercial real estate) for EUR 1.1 billion to the US financial investor Lone Star .

Since September 2014 the company has been operating in the legal form of a stock corporation ; on October 24, 2014 the listing on the Frankfurt Stock Exchange took place in the Prime Standard .

On February 19, 2015, Deutsche Börse decided to include TLG Immobilien AG in the SDAX as of February 24, 2015 , where it remained until it was acquired on February 17, 2020.

In March 2015, LSREF II East AcquiCo S.à rl ( Lone Star ) placed part of its shares and reduced its stake to 18.48%. In July 2015, LSREF II East AcquiCo S.à rl Lone Star later sold all of its stake. Also in July 2015, the Government of Singapore Investment Corporation announced that it held 13.33% of the company's shares.

Further development

With information dated October 14, 2016, the company expanded its business area to include western Germany and is now active nationwide. In May 2017, TLG Immobilien announced that it wanted to take over WCM in full for 435 million euros. By October 4, 2017, the takeover offer by TLG Immobilien was accepted for a total of 117,505,327 WCM shares. This corresponds to around 85.89% of the share capital and voting rights in WCM on the reporting date.

Merger with Aroundtown

On November 18, 2019, Aroundtown announced a takeover offer for TLG Immobilien AG to merge the two companies. At this point in time, the largest shareholder in TLG Immobilien is Ouram Holding S.à rl, with 29.33%. Its main shareholder Amir Dayan (45) will become the second largest Aroundtown shareholder with around 6 percent after the TLG takeover. The parameters for the merger were defined as part of a business combination agreement ("BCA") with Aroundtown. Governance rights for TLG Immobilien were agreed depending on the acceptance rate of the takeover offer.

On February 13, 2020 Aroundtown reported an acceptance rate for the offer to the shareholders of TLG Immobilien of 77.8%, which also formally initiated the merger.

On February 18, 2020, TLG Immobilien was removed from the SDAX by Deutsche Börse .

Yakir Gabay , the founder of the real estate group Aroundtown, is aiming for inclusion in the German leading index Dax in 2021.

Structure and business data

The company, which has branches in Berlin and Dresden as well as branches in Frankfurt am Main, Leipzig, Rostock and Erfurt, achieved consolidated sales of EUR 271.4 million in 2018 (previous year: EUR 208.2 million). As of December 31, 2018, the property value ( IFRS ) was EUR 4.1 billion.

For the Group of TLG Immobilien AG as parent company include various subsidiaries .

In May 2019, the ownership structure was composed as follows:

proportion of Shareholders
53.43% Free float
29.33% Amir Dayan / Maria Saveriadou
09.25% Singapore government
07.99% Georgios Economou

See also

Web links

Individual evidence

  1. ↑ a b Board of Directors of TLG. Retrieved October 31, 2018.
  2. ↑ DGAP-News: General meeting of TLG IMMOBILIEN approves proposed resolutions - changes in the supervisory board | aktiencheck.de. Retrieved May 22, 2019 .
  3. ↑ a b Annual Report 2018 (PDF) TLG Immobilien AG, accessed on March 21, 2019 .
  4. ↑ TLG website. Retrieved December 12, 2012.
  5. ↑ Federal Ministry of Finance: Federal government sells TLG IMMOBILIEN GmbH - largest company privatization of the federal government in five years ( memento of July 19, 2014 in the Internet Archive ). Press release No. 81/12 of December 12, 2012
  6. ↑ a b TLG Immobilien: TLG IMMOBILIEN AG successfully places shares at € 10.75 ( memento of October 24, 2014 in the Internet Archive ). Ad hoc announcement pursuant to Section 15 WpHG (Securities Trading Act) of October 23, 2014
  7. ↑ a b Half-year report 2015. (PDF) TLG Immobilien AG, accessed on August 28, 2015 .
  8. ↑ Gerda Gericke: TLG Immobilien is Lone Star going. In: Immobilien-Zeitung.de. August 3, 2015, accessed August 25, 2015 .
  9. ↑ TLG Immobilien AG: TLG IMMOBILIEN AG acquires for approx. EUR 160 million office properties in Frankfurt am Main - strategic market entry for future growth in western Germany. Retrieved November 18, 2016 .
  10. ↑ TLG Immobilien is offering WCM from May 11, 2017 on handelsblatt.com for competitors
  11. ↑ TLG IMMOBILIEN: Announcement in accordance with Section 23 Paragraph 1 Clause 1 No. 3 of the Securities Acquisition and Takeover Act. Retrieved March 21, 2018 .
  12. ↑ Home - Aroundtown SA - Largest German Listed Commercial Real Estate Company. Retrieved December 19, 2019 .
  13. ^ Charles Kingston: TLG Immobilien buys stake in Aroundtown, mulling full merger. September 16, 2019. Retrieved December 19, 2019 (UK English).
  14. ↑ template. Retrieved December 19, 2019 .
  15. ↑ DEAL - Magazine | Real Estate | Investment | Finance. Retrieved February 18, 2020 .
  16. ↑ AROUNDTOWN SA ANNOUNCES 77.5% FINAL ACCEPTANCE RATE OF THE OFFER TO SHAREHOLDERS OF TLG IMMOBILIEN AG - dgap.de. Retrieved February 18, 2020 .
  17. ↑ DAX Index Update. In: https://www.dax-indices.com . STOXX Ltd., accessed February 13, 2020 .
  18. ↑ Real estate tycoon wants Aroundtown in the Dax. In: Manager magazine. Retrieved February 21, 2020 .
  19. ↑ Shareholder structure. TLG Immobilien AG, accessed on May 22, 2019 .