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MarketScreener Homepage  >  Equities  >  Xetra  >  Aroundtown SA    AT1   LU1673108939

AROUNDTOWN SA

(AT1)
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Aroundtown : Germany's Aroundtown and TLG Immobilien agree on all share merger

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11/19/2019 | 04:12am EST

Shares in Germany's TLG Immobilien rose 1.9% in early trading after the firm said it would merge with Aroundtown SA in an all-share deal to create a commercial real estate company with 25 billion euros ($27.68 billion) in assets.

TLG shareholders will receive 3.6 Aroundtown shares, which amounts to a 27.66 euros offer price per TLG share or a 3.2% premium based on last closing prices, the companies said in a statement early on Tuesday.

Ouram Holding S.à r.l., TLG's largest shareholder, has committed to tender its approximately 28% stake in TLG in the deal, the company said.

The combined company will have assets mainly in Berlin, Frankfurt, Dresden, Leipzig, Hamburg, and aims to achieve operational and financial annual synergies equivalent to a pre-tax increase in funds from operations of 110 million euros to 139 million euros within five years post-merger, TLG said.

Aroundtown shares fell 0.2% in early trading.

(Reporting by Juby Babu in Bengaluru; Editing by Leslie Adler and Michelle Martin)

Stocks mentioned in the article
ChangeLast1st jan.
AROUNDTOWN SA 1.44% 8.04 Delayed Quote.0.70%
TLG IMMOBILIEN AG 1.41% 28.8 Delayed Quote.1.23%
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Financials (EUR)
Sales 2019 888 M
EBIT 2019 2 203 M
Net income 2019 1 409 M
Debt 2019 7 277 M
Yield 2019 3,48%
P/E ratio 2019 6,93x
P/E ratio 2020 8,42x
EV / Sales2019 19,3x
EV / Sales2020 18,1x
Capitalization 9 838 M
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Technical analysis trends AROUNDTOWN SA
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Consensus
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Mean consensus BUY
Number of Analysts 15
Average target price 9,03  €
Last Close Price 8,04  €
Spread / Highest target 36,8%
Spread / Average Target 12,3%
Spread / Lowest Target 3,23%
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Managers
NameTitle
Shmuel Mayo Chief Executive Officer
Eyal Ben David Chief Financial Officer
Jelena Afxentiou Director
Oschrie Massatschi Director
Markus Leininger Independent Director