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Deutsche Land accepts offer

Manx-based Deutsche Land has accepted an improved takeover offer from Black Sea Global Properties which values the company at £43 million.

Deutsche Land invests in German shopping centres, and the offer still needs to be given the green light by shareholders.

The company first sold shares to the public in 2006, and has spent about 610 million euros buying shopping centres across Germany.

Black Sea already owns about 32 per cent of the Deutsche Land and has received commitments from shareholders owning 23 per cent of the stock.

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