Connect with us

Hi, what are you looking for?

Jewish Business News

Real Estate

Huge Exit for Yakir Gabay in Germany: TLG Acquires 10% of AroundTown for $1.14 Billion

Yakir Gabay, who founded AroundTown is listing one of the biggest exits of an Israeli real estate developer of all time.


A real estate deal between two Israelies in Germany brings one of them, Yakir Gabay, to list one of the biggest exits of an Israeli developer of all time.

German real estate firm TLG Immobilien AG, acquired a 9.99% stake in its rival AroundTown AG from Yakir Gabay (Avisco group), for about 1.02 billion euros ($1.14 billion). After this sale, Gabay’s stake in Aroundtown reduced to 17%. The sale will be priced at 8.3 euros per share.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

The two companies started talks to merge the businesses.  The merged company is supposed to be worth € 13 billion and enjoy € 1 billion in revenue a year. The company may enter the Caches index, which includes the 30 largest companies traded in Germany.

Yakir Gabay, the founder of AroundTown, listed the shares in 2015 in both Euronext Paris and the Frankfurt Stock Exchange, at a company value of 1.6 billion euros.

TLG is a public company operating in Germany’s commercial offices and centers, mainly in the cities of Berlin, Frankfurt, and Dresden. TLG, which currently has properties worth 4.6 billion euros said it is evaluating a potential merger. The move would immediately add to its funds from operations, according to the company.

Its major shareholder is Amir Dayan (29.3%), the youngest brother in the family who owns Africa Israel Hotels. The Singapore government holds 9.25%.

“To­day’s an­nounce­ment is the first step to en­able the potential cre­ation of a pan-Eu­ro­pean com­mer­cial real es­tate market leader, fo­cused on Ger­many and the Nether­lands and geared to­wards of­fices and ho­tel, which are the most at­trac­tive segments in com­mer­cial real es­tate,” Avisco said in a statement.

TLG said it in­tends to seek representation on Aroundtown’s board as soon as possible.




You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Copyright © 2021 Jewish Business News