German real estate firms Aroundtown, TLG agree terms of all-stock merger

(Reuters) – Germany’s Aroundtown (AT1.DE) and TLG Immobilien (TLGG.DE) said on Sunday they have agreed the terms of a potential all-stock merger of the two real estate firms.

The two companies said last month they were examining a merger to create a pan-European commercial real estate market leader.

TLG shareholders will be offered Aroundtown shares as consideration for the merger, the companies said in a statement.

The resulting combined company would be headquartered in Berlin and do business under a new name.

Reporting by Ismail Shakil in Bengaluru; Editing by Sandra Maler