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German residential property firm Vonovia buys Austria's Buwog

Tue, Dec 19, 2017 - 5:50 AM

The deal will increase the size of Vonovia's portfolio to almost 400,000 flats and increase its capacity for building new housing.

PHOTO: REUTERS

Frankfurt

VONOVIA, Germany's biggest residential property company, has agreed to buy Austrian counterpart Buwog in a cash deal valuing the latter at 5.2 billion euros (S$8.3 billion), the two companies said on Monday.

The deal will increase the size of Vonovia's portfolio to almost...

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