Deutsche Wohnen, Vonovia Sell Apartments to State of Berlin for EUR2.46 Billion
September 17 2021 - 7:35AM
Dow Jones News
By Kim Richters
Deutsche Wohnen SE and Vonovia SE said Friday that they have
agreed to sell almost 15,000 apartments to the state of Berlin for
about 2.46 billion euros ($2.89 billion) as part of the property
companies' plan to merge their businesses.
"As well as contributing to the expansion of municipal housing
stock, we continue to stand by our commitments to limit regular
rent increases across our combined Berlin portfolio until 2026 and
to build 13,000 new flats in Berlin," said Vonovia Chief Executive
Officer Rolf Buch.
Vonovia is currently pursuing a takeover of rival Deutsche
Wohnen. It has made a public takeover offer at EUR53 per share, and
recently scrapped the suggested minimum shareholder acceptance
threshold of 50% that was part of the bid. A previous, lower offer
failed in July.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
September 17, 2021 07:20 ET (11:20 GMT)
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