- WKN: A1ML7J
- ISIN: DE000A1ML7J1
- Land: Deutschland
Nachricht vom 05.11.2019 | 13:00
Vonovia SE: Vonovia gets competition clearance to become largest residential company in Sweden (news with additional features)
DGAP-News: Vonovia SE
/ Key word(s): Offer
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD VIOLATE THE LAWS OF SUCH JURISDICTION. THIS PUBLICATION IS NEITHER AN OFFER TO BUY OR SELL NOR AN INVITATION TO TENDER OR OFFER TO BUY OR SELL SHARES.
- Vonovia can now complete its acquisition of 69.3% of the voting rights (61.2% of the share capital) in Hembla
- Next step: Mandatory public offer to all Hembla shareholders expected to be published in November
Bochum/Stockholm, 5 November 2019 - Vonovia SE today received competition clearance by the Swedish Competition Authority for its acquisition of 69.3% of the voting rights (61.2% of the share capital) in Swedish residential company Hembla AB (publ). The acquisition will be completed shortly.
This clears the way for Vonovia to become Sweden's largest residential company. After completion of the acquisition, Vonovia will be required to launch a mandatory public offer for the remaining shares in Hembla. Completion of the acquisition and the launch of the mandatory public offer for the remaining shares in Hembla are expected to take place in November.
This is Vonovia's second step into the Swedish market after acquiring residential company Victoria Park in 2018. Through Victoria Park's and Hembla's highly complementary portfolios, Vonovia becomes the largest landlord in Sweden, owning around 38,000 residential units and gaining a compelling exposure to Sweden's three largest cities Stockholm, Gothenburg and Malmö. As a long term investor and holder of properties Vonovia is committed to the Swedish market and will focus on expansion and further investment in Hembla's properties. It is not part of its strategy to realize value through the future sale of buildings.
The investment in Hembla perfectly fits Vonovia's long-term strategy that puts the tenant in the center of all business activity. As a modern service company, Vonovia focuses on customer orientation and tenant satisfaction. The company has built up on its scalable platform services for customers and established a craftsmen organization that enhances the quality of its flats. Offering tenants attractive and high quality living is a prerequisite for the company's successful development. Accordingly, Vonovia makes long-term investments in the maintenance, energy efficiency modernization and senior-friendly conversion of its properties.
Vonovia SE is Europe's leading private residential real estate company. Vonovia currently owns around 395,600 residential units in all attractive cities and regions in Germany, Austria and Sweden. In addition, it manages around 78,350 apartments on behalf of third parties. Its portfolio is worth approximately EUR 47.8 billion. As a modern service provider, Vonovia focuses on customer orientation and tenant satisfaction. Offering tenants attractive and livable homes is a prerequisite for the company's successful development. Accordingly, Vonovia makes long-term investments in the maintenance, modernization and senior-friendly conversion of its properties. The company is also creating more and more new apartments by realizing infill developments and adding to existing buildings.
The company, which is based in Bochum, has been listed on the stock exchange since 2013 and on the DAX 30 since September 2015. Vonovia SE is also listed on the international indices STOXX Europe 600, MSCI Germany, MSCI Germany, GPR 250 and EPRA/NAREIT Europe. Vonovia has a workforce of more than 10,000 employees.
This press release is not being published in or distributed to or into and must not be mailed or otherwise distributed or sent in or into any country or jurisdiction in which the distribution or offering would require any such additional measures to be taken or would be in conflict with any law or regulation in such country or jurisdiction. Persons who receive this press release (including, without limitation, nominees, trustees and custodians) and are subject to the law of any such jurisdiction will need to inform themselves about, and observe, any applicable restrictions or requirements. Any failure to do so may constitute a violation of the securities laws of any such jurisdiction. Vonovia SE, to the fullest extent permitted by applicable law, disclaims any responsibility or liability for the violations of any such restrictions by any person. Any purported acceptance of the potential offer resulting directly or indirectly from a violation of these restrictions may be disregarded.
The potential offer will not be made, directly or indirectly, in or into, Australia, Canada, Hong Kong, Japan or any other jurisdiction where such offer would be prohibited by applicable law or regulation (the Restricted Territories) by use of mail or any other means or instrumentality of interstate or foreign commerce, or of any facility of a national securities exchange, in any of the Restricted Territories. This includes, but is not limited to facsimile transmission, electronic mail, telex, telephone, the internet and other forms of electronic transmission. It will not be possible to accept the potential offer and shares may not be tendered in the potential offer by any such use, means, instrumentality or facility of, or from within any of the Restricted Territories, or by persons located or resident in any of the Restricted Territories. Accordingly, this press release and any documentation related to the potential offer are not being and should not be mailed or otherwise transmitted, distributed, forwarded or sent in or into any of the Restricted Territories or to any person located, resident, from or with a registered address in any of the Restricted Territories. Banks, brokers, dealers and other nominees holding shares for persons in any of the Restricted Territories must not forward this press release or any other document received in connection with the potential offer to such persons.
Document title: Vonovia gets competition clearance to become largest residential company in Sweden
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|End of News||DGAP News Service|
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