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TEG - TAG Immobilien AG News Story

€25.04 0.2  1.0%

Last Trade - 21/02/20

Sector
Financials
Size
Large Cap
Market Cap £3.06bn
Enterprise Value £5.06bn
Revenue £344.2m
Position in Universe 224th / 1050

BRIEF-Tag Immobilien To Enter Polish Residential-For-Rent Market

Fri 8th November, 2019 12:52pm
Nov 8 (Reuters) - TAG IMMOBILIEN AG  TEGG.DE :
    * TAG IMMOBILIEN AG TO ENTER POLISH RESIDENTIAL-FOR-RENT
MARKET
    * ACQUISITION OF VANTAGE DEVELOPMENT VIA TENDER OFFER
SECURED BY
100% COMMITMENT OF SELLING SHAREHOLDERS
    * VANTAGE DEVELOPMENT SHAREHOLDERS HAVE ENTERED INTO AN
INVESTMENT
AGREEMENT WITH TAG TO SELL ALL THEIR SHARES FOR A TOTAL NET
CONSIDERATION OF C.EUR 85M
    * TOTAL NET CONSIDERATION FOR TAG AMOUNTS TO C. EUR 85M FOR
RESIDENTIAL BUSINESS AND PLATFORM OF VANTAGE DEVELOPMENT
    * TOTAL TRANSACTION CONSIDERATION WILL BE FULLY PAID BY
TAG'S
EXISTING CASH.
    * AFTER COMPLETION OF TRANSACTION, DELISTING OF VANTAGE
DEVELOPMENT'S SHARES, CURRENTLY LISTED ON WARSAW STOCK EXCHANGE,
IS INTENDED

Source text for Eikon:  ID:nEQ5zM267a 
Further company coverage:  TEGG.DE 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))
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