Noerr advises TAG Immobilien AG on successful share placement

Noerr has advised TAG Immobilien AG (TAG) on the successful private placement of its own shares. In the course of an accelerated bookbuilding process, more than four million of TAG’s own shares were placed with institutional investors.

Gross issue proceeds of around €51.1 million will accrue to TAG as a result of this transaction. TAG intends to use the proceeds from the placement to finance the acquisition of 1,441 residential units in the city of Brandenburg which was announced on 6 March 2017, for other acquisitions and to further optimise its capital structure.

Joh. Berenberg, Gossler & Co. KG acted as sole bookrunner during the transaction.

Noerr partners Dr Laurenz Wieneke and Dr Julian Schulze De la Cruz acted for TAG during the placement. Noerr’s Frankfurt capital markets team regularly advises TAG on capital markets and real estate transactions.

Advisors to TAG Immobilien AG: Noerr LLP

Dr Laurenz Wieneke, Dr Julian Schulze De la Cruz (joint lead); associates: Dr Dominik Kloka, LL.M. (all Capital Markets, Frankfurt)