Vonovia SE and Deutsche Wohnen SE have announced that the two companies have entered into an agreement on the combination of both businesses (business combination agreement) by way of a public takeover offer by Vonovia SE to all shareholders of Deutsche Wohnen SE.
The offer consideration values the equity of Deutsche Wohnen SE at approximately 18 billion Euro. The consummation of the transaction is expected for end of August 2021 and will be subject to certain closing conditions. These will likely include, in particular, receipt of the required antitrust clearances and the achievement of a minimum acceptance of more than 50% in Deutsche Wohnen SE.
The contemplated combination of Vonovia and Deutsche Wohnen will give rise to a housing company with over 500,000 apartments and therefore Europe's largest private residential real estate company.
Perella Weinberg is acting as a financial advisor of Vonovia SE. Gleiss Lutz advises Perella Weinberg on various legal aspects in connection with the envisaged transaction.
Perella Weinberg is advised by the following team of Gleiss Lutz lawyers: Dr. Christian Cascante (partner, Frankfurt), Dr. Jochen Tyrolt (partner, Stuttgart, both lead), Florian Schorn (Munich) and Dr. Markus Martin (Stuttgart, all corporate/M&A).
Gleiss Lutz has extensive expertise in public takeovers and is regularly involved in high-profile deals (both friendly and hostile) – advising buyers, targets or investment banks.
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