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Deutsche Wohnen Announces Acquisition Of Real Estate Portfolio - Quick Facts

4/26/2013 10:41 AM ET

Deutsche Wohnen AG (DWHHF.PK) announced that it has entered into a purchase agreement for the acquisition of a residential real estate portfolio comprising approximately 6,900 residential units that is held by various companies. The purchase price consists of a cash component amounting to 260 million euros, as well as a share component of 8.15 million new no-par value ordinary bearer shares of Deutsche Wohnen AG.

In order to fulfill the agreed share component, the Board of Deutsche Wohnen AG has resolved on a capital increase in the nominal amount of approximately 5% of the current share capital against contributions in kind and under exclusion of shareholders' subscription rights. The company's share capital will be increased from 160.76 million euros to 168.91 million euros. To this end, the company will issue 8.15 million new no-par value ordinary bearer shares to the sellers.

Deutsche Wohnen AG announced it has also acquired an additional residential real estate portfolio, comprising roughly 900 residential units in Berlin, for a gross purchase price of approximately 51 million euros in cash.

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by RTT Staff Writer

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