Allen & Overy LLP is advising the syndicate of banks led by Barclays and Credit Suisse on the capital increase of TAG Immobilien AG (TAG) for the purpose of financing the acquisition of TLG Wohnen. Please enter ByLine.
In this transaction, TAG will take over more than 11,000 flats located predominantly in Berlin, Dresden and Rostock as well as liabilities of approx. EUR 256 million from German state-owned TLG Wohnen for a purchase price of EUR 471 million in total.
Barclays and Credit Suisse have also undertaken to grant TAG a bridge financing equalling the cash portion of the purchase price. In this context the banks are also being advised by Allen & Overy.
The Allen & Overy team comprised partners Dr. Oliver Seiler (transaction management), Gernot Wagner (both Equity Capital Markets) and Thomas Neubaum (Banking and Finance), counsel Dr. Knut Sauer (Equity Capital Markets) and senior associate Bianca Engelmann (Banking and Finance, all Frankfurt).
