Vonovia And Deutsche Wohnen Join Forces
Vonovia and Deutsche Wohnen Join Forces Berlin-based real estate companies Vonovia SE and Deutsche Wohnen SE announce the initiation of a process to enter into a control and profit transfer agreement, a move that will create Europe's largest residential real estate company The combination of Vonovia and Deutsche Wohnen will result in a portfolio of around 568,000 residential units, making it the leading residential real estate company in Germany and Europe. The combined company will have a market capitalization of approximately €42 billion and will be well-positioned for continued growth and value creation. The transaction is subject to regulatory approvals and the approval of the shareholders of both companies. The closing of the transaction is expected to take place in the second half of 2023. Strategic Rationale The combination of Vonovia and Deutsche Wohnen is a compelling strategic fit that will create a leading European residential real estate company with a strong ...