Vonovia completes takeover of Deutsche Wohnen

Deutsche Wohnen SE

26/10/2021 07:13

BERLIN, Oct 26 (Reuters) - German real estate company
Vonovia  VNAn.DE  said on Tuesday that it had secured a total of
87.6% of voting rights in Deutsche Wohnen  DWNG.DE ,
successfully completing its takeover bid of a onetime rival.
    Together they create a housing behemoth with a portfolio of
some 568,000 apartments.
    Deutsche Wohnen shareholders who had not yet accepted
Vonovia's offer were able to tender their shares during an
additional acceptance period ending on Oct. 21 for 53 euros 
($61.68) in cash per share, Vonovia said.
    The merger comes amid public anger over rising rents and
housing shortage, especially in the capital Berlin where a
provisional referendum by Berliners last month voted in favour
of expropriating major landlords to help reduce rents.
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($1 = 0.8593 euros)

 (Reporting by Miranda Murray
Editing by Riham Alkousaa)
 ((Miranda.Murray@thomsonreuters.com;))