Vonovia and Deutsche Wohnen shares in red: Vonovia shareholders agree to takeover of Deutsche Wohnen

As Vonovia announced, 99.97 percent of the represented share capital voted for the contract and for the conditional capital increase provided for it. One day earlier, Deutsche Wohnen shareholders had already approved the contract.

Both companies concluded the contract on December 15, 2024. In order for it to become effective, the approval of the general meetings of both contracting parties is required.

The contract is intended to be valid for an unlimited period and, according to the announcement, it can be terminated for the first time after five years. According to the announcement, the “outside shareholders” of Deutsche Wohnen will be offered a compensation of 0.7947 Vonovia shares per Deutsche Wohnen share. Accordingly, the Vonovia Annual General Meeting also had to decide on the conditional capital proposed for this purpose.

For the duration of the contract, Vonovia will make an annual compensation payment for every full financial year to the “outside shareholders” of Deutsche Wohnen. According to the information, this amounts to gross 1.22 euros per share or net 1.03 euros per share.

According to previous information, Vonovia holds almost 87 percent of the voting rights in Deutsche Wohnen; Following the completion of a recently agreed joint venture with Apollo, Vonovia will directly and indirectly hold around 77 percent of Deutsche Wohnen, according to a company spokeswoman. Completion is not expected before the end of the first quarter.

Vonovia shares lost 1.55 percent to 27.90 euros in after-hours trading on Tradegate, while Deutsche Wohnen shares even fell 2.39 percent to 22.45 euros.

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