Reuters logo
German property group TLG prepares offer for peer WCM - sources
May 10, 2017 / 12:25 PM / 6 months ago

German property group TLG prepares offer for peer WCM - sources

FRANKFURT, May 10 (Reuters) - German property group TLG Immobilien is preparing a takeover offer for peer WCM as it seeks to buy stakes from the company’s largest shareholders, three people close to the matter said.

TLG is close to striking a deal to buy a 26 percent stake in WCM from DIC Asset and a 14 percent stake belonging to the Ehlerding family, the people said.

Following the acquisition of these stakes, TLG would launch an offer to buy out all remaining shareholders, they added.

The deal may be announced as early as this week, they said.

TLG, DIC and WCM declined to comment, while Ehlerding was not immediately available. (Reporting by Alexander Hübner and Arno Schuetze; Editing by Maria Sheahan)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below