Germany’s Aroundtown and TLG agree on non-binding terms for mega merger

Following Aroundtown’s announcement in September on the evaluation of a potential merger with TLG Immobilien, both companies have analysed the potential merger and the best possible way to achieve a successful combination of their businesses from an economic, financial, operational, legal and tax standpoint. Aroundtown's Board of Directors resolved yesterday the execution of a non-binding term sheet with TLG, determining the essential terms and conditions of a potential merger of the two companies.