Germany's No 2 housing landlord bids 980m euros for Austrian rival
Berlin
DEUTSCHE Wohnen AG, Germany's second-largest residential landlord, plans to make a bid for Conwert Immobilien Invest SE that values the Austrian competitor at about 980 million euros (S$1.5 billion).
Deutsche Wohnen will offer 11.50 euros a share in cash, the Berlin-based company said in a statement. That's 4.8 per cent more than Conwert's closing price of 10.97 euros on Friday. Vienna-based Conwert's biggest investor will tender most of its shares, Deutsche Wohnen said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Abu Dhabi builder plans US$6.8 billion luxury housing project
JTC to sell hospitality project being built in Punggol Digital District
Mapletree Logistics Trust posts 2.5% drop in Q4 DPU; manager warns of further headwinds
Abu Dhabi developer Aldar posts 88% in Q1 leap
Without a game changer, Sentosa Cove condos will continue underperforming
Church to tackle US housing crisis