Bloomberg News

TAG Immobilien Makes Offer for Last Minority Bau-Verein Stake

February 07, 2012

Feb. 7 (Bloomberg) -- TAG Immobilien AG, a Hamburg-based realtor, offered 4.50 euros a share for the remaining stake in Bau-Verein zu Hamburg AG it doesn’t own.

TAG, which owns 93.2 percent of Bau-Verein, gave shareholders until March 9 to decide whether to accept the offer, according to an e-mailed statement from TAG.

Bau-Verein sells, develops, leases and manages residential and commercial real estate, primarily in Munich, Berlin and Hamburg, and has a market capitalization of 101 million euros ($134 million), according to data compiled by Bloomberg.

--Editor: James Kraus

To contact the reporter on this story: Alex Webb in Frankfurt at awebb25@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net


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