Vonovia discussing merger options in German property market -sources - RTRS
09-OCT-2015 12:29:11
FRANKFURT, Oct 9 (Reuters) - Vonovia VNAn.DE is talking to shareholders about merger options in the German real estate market, sources said, weeks after Deutsche Wohnen DWNG.DE offered to buy peer LEG Immobilien LEGn.DE in a 4.6 billion euros ($5.2 billion) all-share deal.
Vonovia is currently busy integrating Gagfah, which it bought last year for 3.9 billion euros in cash and shares, as well as its most recent buy, the 1.1 billion euro Suedewo acquisition, which both helped strengthen its lead in a fragmented sector.(Full Story)
But the group remains hungry for more acquisitions, chief executive Rolf Buch said earlier this year. (Full Story)
People familiar with the matter said that Deutsche Wohnen would potentially make a good fit for Vonovia, formerly known as Deutsche Annington.
"Vonovia is monitoring very closely how the situation develops, talking to the big shareholders which are involved in all three companies. They want to hear their feedback," one of the sources said.
At this stage, no decisions have been taken and no specific moves are being discussed by the board, the person added.
Vonovia and Deutsche Wohnen declined to comment.