German real estate firm Deutsche Wohnen SE (DWHHF.PK), part of domestic real estate major Vonovia SE (VONOY), announced Tuesday its agreement to sell nursing company PFLEGEN & WOHNEN HAMBURG GmbH or P&W to Hamburg Municipal Holding Company HGV. The deal price of 380 million euros will be financed by HGV without burdening the budget.
The Senate gave green light for the notarization of the final purchase agreement on January 17.
Under the deal, the Free and Hanseatic City of Hamburg or FHH will acquire 13 nursing home locations in Hamburg including all associated properties with around 2,000 employees and approximately 2,400 nursing places from Deutsche Wohnen.
The FHH will take over the facilities which Deutsche Wohnen currently operates as P&W to secure and strengthen the supply of elderly care in Hamburg in the long term.
The company said the intended deal is based on extended due diligence and negotiations between the parties.
Lars Urbansky, CEO of Deutsche Wohnen, said, "With the sale to the City of Hamburg Deutsche Wohnen successfully places Pflegen & Wohnen Hamburg in good hands. We are handing over an economically healthy company with strong substance to a responsible new owner. The high quality of all operations will continue."
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.