German landlord Vonovia joins DAX Index after buying spree

Berlin

VONOVIA SE will this month become the first residential landlord to enter a benchmark European stocks index after a two-year acquisition spree that more than tripled its market value to almost 14 billion euros (S$22.22 billion).

Formerly known as Deutsche Annington Immobilien SE, Germany's largest property company will replace Lanxess AG in the country's DAX Index of 30 biggest publicly traded companies starting on Sept 21, Deutsche Boerse said in a statement on Thursday.