By Olivia Bugault 
 

Vonovia SE said Tuesday that it secured roughly 87.6% of voting rights to acquire Deutsche Wohnen SE at the end of its additional acceptance period on Oct. 21.

Frankfurt-listed residential landlord Vonovia has completed the takeover bid for its smaller rival Deutsche Wohnen on its third attempt to buy the company. In late August, the company launched a new and final public takeover offer at 53 euros ($61.54) for each Deutsche Wohnen share.

"Together, Vonovia and Deutsche Wohnen will manage a portfolio of approximately 568,000 apartments," it said. The deal will create Europe's largest residential real-estate group.

 

Write to Olivia Bugault at olivia.bugault@wsj.com

 

(END) Dow Jones Newswires

October 26, 2021 02:40 ET (06:40 GMT)

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