Germany’s listed real estate company Vonovia said on Tuesday that it had completed the voluntary public takeover offer to the shareholders of Deutsche Wohnen.
”At the end of the additional acceptance period, Vonovia had a total of around 87.6% of the voting rights in Deutsche Wohnen,” said the company in a press release. ”Until October 21, 2021, midnight (CEST), the shareholders of Deutsche Wohnen had the opportunity to tender their shares at a price of EUR 53 per share.”
Vonovia and Deutsche Wohnen will jointly manage a portfolio of around 568,000 apartments.
Rolf Buch, CEO of Vonovia, said: “We can now join forces to tackle the major societal and social challenges in the housing market. We have proven many times that we can achieve significant advantages by managing a larger number of apartments that benefit all stakeholders. We stand by our responsibility to work together with politicians on specific solutions for affordable and climate-friendly living space. “