Vantage goes to German TAG Immobilien
21:05
TAG Immobilien, a German developer takes over Vantage Development. The value of the transaction was valued at €131 million. TAG Immobilien announces the construction of 8,000 to 10,000 apartments for rent in Poland.
The commercial part, including office assets, will be resold by TAG to existing Vantage shareholders. As a result, TAG will spend about €85 million on the acquisition of Vantage, the commercial part of the developer was valued for the acquisition at €46 million. The transaction is expected to be finalized in the first quarter of 2020. After the transaction is completed, it is planned to withdraw Vantage Development shares from the Warsaw Stock Exchange.
