states. In 2000, TLG was reoriented from focussing on privatisation of its assets to "active portfolio management" with a view to making profits for the German federal government. By 2007, having sold 45,000 properties in six years and reinvested 1.5 billion euros, it was still managing 1500 properties worth 1.4 billion euros. The planned privatisation of TLG itself was put on hold in July 2008 because of adverse economic conditions. In January 2020, TLG Immobilien was acquired by the Luxembourg-domiciled property company Aroundtown SA. In July 2008, the BVVG announced total privatization receipts of 3.5 billion euros since its establishment in 1992, which it had gained through the sale of around of agricultural land, with a similar amount of forest land and a small amount of other land. Total land sales amounted to around half the area of the state of Saxony-Anhalt. At the end of 2007, it still owned over of agricultural land and just under of forest land. References Further reading Mark Cassell, How Governments Privatize: the Politics of Divestment in the United States and Germany, Georgetown University Press, 2002. Vladimiro Giacché, Anschluss: Die deutsche Vereinigung und die Zukunft Europas, Laika-Verlag, Hamburg 2014, German Edition, . Economy of East Germany 1990 establishments in East Germany Privatization funds