TLG Immobilien to merge with Aroundhome in a $3.4bn deal.

German real estate firm TLG Immobilien agreed on the terms of its merger with Aroundhome, a Luxembourg-based real estate company, in a $3.4bn deal. "Whilst there are var­i­ous ways to grow a com­pany, the best is to com­bine forces with lead­ing mar­ket play­ers in the same field. There­fore, our strat­egy was to look for the in­dus­try part­ner who ide­ally fits with TLG, which has led to the ac­qui­si­tion of an ini­tial 9.99% stake in Around­town and an op­tion to fur­ther in­crease the stake up to 14.99%. We wel­come work­ing with Around­town to­wards a fu­ture merger of the two com­pa­nies and cre­at­ing one of the largest com­mer­cial real es­tate firms in Eu­rope with a fo­cus on top tier cities in Ger­many and the Nether­lands," Sascha Het­trich, TLG chair­man of the su­per­vi­sory board.