HomeEconomyReal estate and housingDeutsche Wohnen7. October 2021, 6:58 p.m.
Deutsche Wohnen: Vonovia buys the majority
In the third attempt, the largest German real estate group Vonovia is on the right track with the multi-billion dollar takeover of rival Deutsche Wohnen. At the end of the acceptance period, Vonovia was able to secure a 60.3% majority in number two in the housing market, as the Bochum-based Dax group announced on Thursday. This creates a European real estate giant with more than 550,000 apartments, most of them in Germany.
Vonovia boss Rolf Buch had already failed twice due to the takeover of Deutsche Wohnen. He had already mounted his first attack against the competitor in 2016, at the time against his will and without success. In the second attempt this year, he managed to rally the management board and supervisory board of the Berlin company, but not all of the shareholders involved in Deutsche Wohnen. They offered too few shares. For the third attempt, Vonovia increased the offer by one euro to 53 euros per share. Deutsche Wohnen is worth a total of around 19 billion euros.
© SZ of October 8, 2021 / dpa