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DGAP-News: Vonovia SE
/ Key word(s): Investment
Vonovia acquires a 2.6% stake in Dutch Residential Fund Vesteda    - First step into Dutch Residential Market Bochum, 26 June, 2020 - Vonovia SE, through a wholly owned subsidiary, will take a first step into the Dutch Residential Market by acquiring a 2.6% stake in Vesteda Residential Fund ("Vesteda"). Vesteda is the leading residential platform in The Netherlands with ca. 27,000 residential units primarily located in the highly attractive Randstad region. After extensive research and analysis of the Dutch residential market, this acquisition marks the first entry point into The Netherlands, which is one of the four non-German residential target markets for Vonovia. Similar to the 10% stake acquired in the French residential portfolio Foncière Vesta in 2018 this transaction will enable Vonovia to take the next incremental step in its efforts to develop an even better understanding of the local market and gain practical first-hand experience. This acquisition reconfirms Vonovia's ambition to build on its track record of scale and efficiency in Germany and to largely replicate this success story in comparable markets. Rolf Buch, CEO of Vonovia, commented, "While the newly acquired stake is clearly only a small step in this direction, it puts us in an ideal position on which we can further build if and when opportunities arise." Gertjan van der Baan, CEO of Vesteda, commented, "We would like to welcome Vonovia to the investor group of Vesteda. With a now more diverse investor base with a similar vision regarding our risk-return and long term investment horizon, we look forward to combining our knowledge on sustainability and affordability." The current transaction is explicitly supported by the Vesteda management. It aims for a closer cooperation with Vesteda and helps to address similar challenges and opportunities that both companies face, including affordable housing and climate protection. The planned closing date for the acquisition of the stake is 30 June 2020. About Vesteda Vesteda is a Dutch residential investor that focuses primarily on the mid-rental segment. Vesteda invests funds for institutional investors, such as pension funds and insurance companies. The portfolio consists of more than 27,000 residential units with a total value of 8 billion euro. Vesteda's homes are mainly located in economically strong regions and core urban regions. About Vonovia The company, which is based in Bochum, has been listed on the stock exchange since 2013 and on the DAX 30 since September 2015. Vonovia SE is also listed on the international indices STOXX Europe 600, MSCI Germany, MSCI Germany, GPR 250 and EPRA/NAREIT Europe. Vonovia has a workforce of more than 10,000 employees.
This press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from Vonovia's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. Vonovia accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release. Additional features: File:
26.06.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | Vonovia SE |
| Universitätsstraße 133 | |
| 44803 Bochum | |
| Germany | |
| Phone: | 09 |
| Fax: | 5 |
| E-mail: | |
| Internet: | |
| ISIN: | DE000A1ML7J1 |
| WKN: | A1ML7J |
| Indices: | DAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1079561 |
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| End of News | DGAP News Service |
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1079561Â Â 26.06.2020Â
