TLG Immobilien, a German listed real estate landlord, has received overwhelming shareholder approval for its friendly all-share takeover of peer WCM. 

tlg shareholders approve merger with german real estate peer wcm

Tlg Shareholders Approve Merger With German Real Estate Peer Wcm

The share of the vote in favour of the 'domination agreement' came to 99.9% at TLG's extraordinary general meeting held on 23 November. 

WCM's shareholders backed the agreement on Friday 17 November 2017.

The combination of Berlin-based TLG and WCM of Frankfurt will own almost €3 bn of German real estate.

WCM manages about €700 mln of real estate.

TLG was listed by US private equity firm Lone Star on the Frankfurt Stock Exchange in 2014, and Singaporean sovereign wealth fund GIC held 13% of the shares at end-2016.

TLG's portfolio of office, retail and hotels was valued at €2.3 bn in June this year. The main focus is on office properties in Berlin and Frankfurt/Main, and the eastern German cities of Dresden, Leipzig and Rostock.