Vonovia SE to Acquire Deutsche Wohnen SE
May 24 2021 - 6:50PM
Dow Jones News
By Maria Armental
Germany's Vonovia SE has made a takeover offer for Deutsche
Wohnen SE that would create Europe's largest residential
real-estate group.
Under the preliminary terms of the deal, Deutsche Wohnen
shareholders would receive 53.03 euros, including a proposed cash
dividend. The executive and supervisory boards of Deutsche Wohnen
support the offer, which is expected to be completed by the end of
August.
"The market environment has become increasingly similar for
Vonovia and Deutsche Wohnen in recent years," Deutsche Wohnen Chief
Executive Michael Zahn said in a statement, adding: "Together we
will create new perspectives for our employees, our tenants and our
owners."
"The necessary investments in affordable housing, climate
protection and new construction can be better shouldered together
following the combination of the two companies," according to a
statement disclosing the deal, which was earlier reported by
Bloomberg News.
The companies are offering the state of Berlin an option to
acquire "a significant number" of residential units from their
portfolios.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
May 24, 2021 18:43 ET (22:43 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Deutsche Wohnen (TG:DWNI)
Historical Stock Chart
From Aug 2024 to Sep 2024
Deutsche Wohnen (TG:DWNI)
Historical Stock Chart
From Sep 2023 to Sep 2024