TLG Immobilien, a German listed real estate landlord, has received overwhelming shareholder approval for its friendly all-share takeover of peer WCM.
The share of the vote in favour of the 'domination agreement' came to 99.9% at TLG's extraordinary general meeting held on 23 November.
WCM's shareholders backed the agreement on Friday 17 November 2017.
The combination of Berlin-based TLG and WCM of Frankfurt will own almost €3 bn of German real estate.
WCM manages about €700 mln of real estate.
TLG was listed by US private equity firm Lone Star on the Frankfurt Stock Exchange in 2014, and Singaporean sovereign wealth fund GIC held 13% of the shares at end-2016.
TLG's portfolio of office, retail and hotels was valued at €2.3 bn in June this year. The main focus is on office properties in Berlin and Frankfurt/Main, and the eastern German cities of Dresden, Leipzig and Rostock.
