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Vonovia Secures Around 87.6% Voting Rights Of Deutsche Wohnen; Completes Takeover Offer

German residential real estate company Vonovia SE (DAIMF) Tuesday said it has successfully completed its public takeover offer to the shareholders of Deutsche Wohnen SE. Vonovia secured a total of around 87.6 percent of the voting rights of Deutsche Wohnen following the end of the additional acceptance period.

Deutsche Wohnen shareholders had the opportunity to tender their shares at a price of 53 euros per share until on October 21.

Together, Vonovia and Deutsche Wohnen will manage a portfolio of approximately 568,000 apartments.

Rolf Buch, CEO of Vonovia, said, "We have demonstrated many times that managing a larger number of homes enables us to achieve significant benefits for all stakeholders. We will uphold our responsibility to work together with policy-makers on concrete solutions for affordable and climate-friendly housing."

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