DGAP-News: TLG IMMOBILIEN AG
/ Key word(s): Disposal/Real Estate
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TLG IMMOBILIEN AG CONTINUES FURTHER SUCCESSFUL DISPOSAL ACTIVITY AFTER DISPOSALS IN 2020 ABOVE BOOK VALUE
Berlin, 11 February 2021 - TLG IMMOBILIEN AG (the "Company" or "TLG") successfully continues its disposal activity in 2021 and is in advanced disposal negotiations of approx. EUR 250 million year-to-date ("2021 Disposals") after signing disposals of approx. EUR 1 billion in 2020.
The 2021 Disposals are being executed through various transactions and comprise office and retail properties in Leipzig, Dresden and Berlin.
The disposals are in line with TLG's strategy to focus on core assets of mainly offices in top German cities. The proceeds from disposals strengthen the Company's liquidity position and can be utilized to fund the share buyback, debt repayments and for other corporate activities.
Further, Mr Ronny Schneider has stepped down from his position as a member of the management board of TLG due to personal reasons in order to pursue further challenges. The company thanks Mr Schneider for his support in this transition period.
About the Company
For over 25 years, the listed company TLG IMMOBILIEN AG has owned and rented out commercial properties in selected promising locations in Germany. The company continuously develops its portfolio and actively generates value through strategic investments and selected property acquisitions. The portfolio comprises mainly office properties in cities including Berlin, Dresden, Frankfurt/Main, Leipzig and Rostock. The properties of TLG IMMOBILIEN AG stand out not only due to their excellent locations but also because of their long-term rental or lease agreements. Its highly qualified employees guarantee extensive local market expertise at its individual locations. In 2020, TLG merged with Aroundtown SA (AT1) which is the controlling shareholder of TLG.
|Company:||TLG IMMOBILIEN AG|
|Phone:||030 - 2470 - 50|
|Fax:||030 - 2470 - 7337|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange|
|EQS News ID:||1167855|
|End of News||DGAP News Service|