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Noerr advises TAG Immobilien on share placement

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Noerr has advised TAG Immobilien on the 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 EUR51.1 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.

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