TAG Immobilien AG: TAG Immobilien AG has disclosed further information about the proposed takeover of Colonia Real Estate AG

TAG Immobilien AG has disclosed further information about the proposed takeover of Colonia Real Estate

TAG Immobilien AG: TAG Immobilien AG has disclosed further information about the proposed takeover of Colonia Real Estate AG

TAG Immobilien AG  / Key word(s): Miscellaneous

01.12.2010 09:55

TAG Immobilien AG has disclosed further information about the proposed
takeover of Colonia Real Estate AG, in particular an illustrative joint
balance sheet for the two companies as at 30 September 2010 and an
illustrative profit and loss statement for the first nine months of the
current fiscal year

On 15 November 2010, with the approval of the Supervisory Board, the
Management Board of TAG Immobilien AG, Hamburg ('TAG' in the following)
resolved to finance the acquisition of a majority stake in Colonia Real
Estate AG ('CRE' in the following) by issuing new shares with a total
nominal value of up to EUR 11,607,249 (the 'new shares') and convertible
bonds in a total amount of up to approximately EUR 70 million (the
'convertible bonds'). The new shares and the convertible bonds are
currently being offered for subscription. The corresponding subscription
offers (the 'subscription offers') were published in the Electronic Federal
Gazette (elektronischer Bundesanzeiger) on 19 November 2010.

As part of the subscription offers, the Company has recommended to
shareholders that they ensure they are fully informed before submitting a
subscription declaration, and in particular to read the 2009 consolidated
financial statements, the interim report for the 3rd Quarter of 2010, the
company's securities prospectus dated 29 October 2010 downloadable from the
company's website, and the company's ad hoc announcement dated 15 November
2010. Today on its website at
TAG published further information about the proposed public offer for the
acquisition of CRE and its financing, as well as some illustrative
financial information in connection with the proposed takeover of CRE, for
the purpose of informing interested shareholders and the investors referred
to in the bookbuilding process. The Company has created a joint
illustrative profit and loss account for the Company and CRE for the period
from 1 Jan 2009 to 31 Dec 2009 and from 1 Jan 2010 to 30 Sep 2010 as well
as a joint illustrative balance sheet for the Company and CRE as at 30 Sep
2010. This is not pro forma financial information pursuant to EU Prospectus
Regulation 809/2004 of 29 April 2004 or IDW RH 1004 'Creating pro forma
financial information'. Rather these are figures that are purely for
illustrative purposes. The figures are based on a number of assumptions
that may not materialise or at least not in this way. In particular these
include the adoption of the acquisition of 100% CRE shares and certain
assumptions regarding the acquisitions cost and financing of the
acquisition, in particular as regards the outcome of the capital measures,
and the purchase price allocation. Based on these assumptions, as at 30 Sep
2010 the joint balance sheet total would have been EUR 1,898 million, the
joint non-current assets EUR 1,633 million, the joint non-current
liabilities EUR 1,266 million, joint equity EUR 395 million and the joint
LTV ratio 75%. Based on the assumptions made by the Company, as at 30 Sep
2010 the joint EBIT of the two companies would have amounted to around EUR
55 million with a joint profit of around EUR 11 million.

It is expressly pointed out that other assumptions would result in a
different set of figures and the assumptions currently cannot be reliably

The Company recommends that shareholders and the institutional investors
addressed in the bookbuilding process carefully read these figures
including the accompanying notes.

This document does not constitute an offer to sell or a solicitation of an
offer to buy the securities described herein. This document is not intended
for shareholders in the United States, Canada, Australia or Japan.

TAG Immobilien AG
Investor and Public Relations 
Britta Lackenbauer / Dominique Mann
Tel. +49 (0) 40 380 32 -386 / -305
Fax +49 (0) 40 380 32 390

01.12.2010 Dissemination of a Corporate News, transmitted by DGAP - 
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Language:     English
Company:      TAG Immobilien AG
              Steckelhörn 5
              20457 Hamburg
Phone:        040 380 32 300
Fax:          040 380 32 390
ISIN:         DE0008303504
WKN:          830350
Indices:      SDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard), München;
              Freiverkehr in Hamburg, Düsseldorf, Berlin, Hannover,
End of Announcement                             DGAP News-Service