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Deutsche Annington seeks to buy Gagfah in 3.9b euro deal

Germany's biggest-ever real estate acquisition will cement former as country's largest residential landlord

Published Mon, Dec 1, 2014 · 09:50 PM
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Frankfurt

DEUTSCHE Annington Immobilien SE offered to buy competitor Gagfah SA in a 3.9 billion euro (S$6.4 billion) deal that would be Germany's biggest-ever real estate acquisition. Gagfah shares rose the most since March 2012.

Deutsche Annington, based in Bochum, offered five shares and 122.52 euros in cash for 14 Gagfah shares, corresponding to a value of 18 euros apiece, the companies said in separate statements on Monday.

The offer, which is 16 per cent higher than Gagfah's previous close, beats Deutsche Wohnen AG's acquisition of GSW…

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