Vonovia previously announced a voluntary public takeover offer to the shareholders of Deutsche Wohnen on 23 June 2021. However, this offer did not reach the minimum acceptance threshold of 50%.
In such a case, a new public takeover offer within one year of the end of the acceptance period is only permitted if the target company consents and if BaFin grants an exemption from the one year blocking period. Deutsche Wohnen had already provided its consent in the new Business Combination Agreement.
Vonovia will now immediately submit a new offer document to BaFin for review and, once approved, present it to the shareholders. The new public offer to the shareholders of Deutsche Wohnen is expected to be submitted before the end of August.
About Vonovia
Vonovia SE is Europe’s leading private residential real estate company. Vonovia currently owns around 415,000 residential units in all attractive cities and regions in Germany, Sweden and Austria. It also manages around 72,500 apartments. Its portfolio is worth approximately € 59.0 billion. As a modern service provider, Vonovia focuses on customer orientation and tenant satis-faction. Offering tenants affordable, attractive and livable homes is a prereq-uisite for the company’s successful development. Therefore, Vonovia makes long-term investments in the maintenance, modernization and senior-friendly conversion of its properties. The company is also creating more and more new apartments by realizing infill developments and adding to existing buildings. (...)
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