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Vonovia apparently wants to take over Deutsche Wohnen

2021-05-25T09:14:40.887Z

Vonovia has already tried twice to swallow rival Deutsche Wohnen. Now the real estate giant is apparently making a new attempt. According to a media report, talks about a takeover are already advanced.



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Vonovia headquarters in Bochum

Photo: Marcel Kusch / dpa

There could be a major merger in the German housing industry.

As reported by the Bloomberg news agency, Vonovia is making another attempt to take over competitor Deutsche Wohnen.

Vonovia is offering 53 euros per share of Deutsche Wohnen, which is concentrated on Berlin, it said.

That would be more than 18 billion euros in total.

The talks about the possible takeover are already advanced.

The dpa news agency also reports on the possible takeover.

The dpa has learned from circles that the two companies are prepared to meet concerns from politics and tenants.

Vonovia is aiming for an amicable settlement with the management of Deutsche Wohnen.

However, there is still no final decision and it is not certain whether the considerations will lead to a transaction.

The two companies could not initially be reached for comment on the holiday.

Vonovia significantly increased profits despite Corona

Vonovia is the largest German real estate group, and Deutsche Wohnen is number two.

The two largest German landlords bring it together to more than half a million apartments.

The combined market capitalization is a good 46 billion euros, with Vonovia being worth almost twice as much as Deutsche Wohnen, which grew by 3 percent, despite a price slide of 13 percent since the beginning of the year.

The first takeover attempt failed in 2016 due to resistance from Deutsche Wohnen shareholders.

The takeover target had described the offer as hostile and not in the best interests of its shareholders.

At the beginning of last year Vonovia had again considered buying, according to Kreisen.

At the end of the considerations, however, the group decided to refrain from the project, Bloomberg reported at the time.

Vonovia recently made headlines with an increase in profits during the corona pandemic.

The housing group increased its profit significantly in 2020 and sees itself on a growth path for 2021 as well.

asc / dpa / Reuters

Source: spiegel

All business articles on 2021-05-25

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