TAG Immobilien AG's bid for DKB Immobilien AG accepted

TAG Immobilien AG  / Key word(s): Acquisition

26.03.2012 12:47

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(Hamburg, 26. March 2012) Deutsche Kreditbank AG (DKB) today accepted TAG
Immobilien AG's bid to buy DKB Immobilien AG. On 29 February 2012, TAG
Immobilien AG ('TAG' in the following) had submitted a binding purchase
offer for DKB Immobilien AG, with a cash component of EUR 160 million. DKB
today announced that all committees have approved the awarding of the deal
to TAG.

The purchase price will largely be financed with a capital increase against
cash concluded last week by TAG Immobilien AG. The contract signing and
takeover of shares in DKB Immobilien AG are expected to take place in the
next few days. The transaction will increase TAG's residential property
inventory by some 25,000 units to approx. 56,000 units, and increase the
group's net balance sheet assets to approx. EUR 3 billion.
 


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Language:     English
Company:      TAG Immobilien AG
              Steckelhörn 5
              20457 Hamburg
              Germany
Phone:        040 380 32 0
Fax:          040 380 32 390
E-mail:       ir@tag-ag.com
Internet:     www.tag-ag.com
ISIN:         DE0008303504
WKN:          830350
Indices:      SDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard), München;
              Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
              Stuttgart
 
End of Announcement                             DGAP News-Service
 
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