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TLG fulfills final condition in WCM takeover offer

TLG IMMOBILIEN AG registered Oct. 6 a capital increase offering in the commercial register of the Charlottenburg court in Germany, fulfilling the last condition required to proceed with the settlement of its takeover offer for WCM Beteiligungs- und Grundbesitz-AG.

The two companies signed a domination agreement earlier, subject to an approval at TLG's extraordinary general meeting, where WCM shareholders who have not accepted the takeover offer will receive a guaranteed dividend of 13 euro cents per share during agreement period. They will also be offered four new TLG shares of no par value shares in exchange for every 23 WCM shares.

As of the Sept. 26 closing of an additional acceptance period, a total of 117,505,327 WCM shares, or approximately 85.89% of the share capital, were tendered.