Real estate Vonovia offers GSW for Deutsche Wohnen subsidiary

Real estate Vonovia offers GSW for Deutsche Wohnen subsidiary

Real estate Vonovia offers GSW for Deutsche Wohnen subsidiary
The real estate company also wants to gain full control over the Deutsche Wohnen subsidiary GSW.  Source: imago images / Ina Fassbender

The real estate group Vonovia wants to gain full control over the Deutsche Wohnen subsidiary GSW with the planned takeover of the competitor Deutsche Wohnen. makes a corresponding purchase offer to the minority shareholders. Vonovia announced on Tuesday evening in Bochum that the company wanted to pay GSW shareholders the statutory minimum price by way of a voluntary public takeover offer. The transaction is expected to close in January 2022.

GSW Immobilien AG has owned more than 90 percent of the Deutsche Wohnen Group since 2013; only a small proportion of the shares are now in free float. The housing company with around 60,000 apartments belonged to the State of Berlin until 2004 and was then privatized in times of empty public coffers.

The industry leader Vonovia intends to take over the smaller competitor Deutsche Wohnen for several billion euros in the near future. Together they both own around 570,000 apartments. The deal is particularly controversial in Berlin, where Deutsche Wohnen is strongly represented. In Berlin, on the day of the federal election next Sunday, there will also be a referendum on the expropriation of large housing groups.

The real estate groups facing the merger want to take countermeasures and are selling around 15,000 properties to Berlin. Three state-owned companies recently agreed with Vonovia and Deutsche Wohnen to buy 14,750 apartments and 450 commercial units. You pay 2.46 billion euros for it. Originally, the companies offered the country up to 20,000 apartments.

The red-red-green state government in Berlin is pursuing the goal of expanding the municipal housing stock through new construction and acquisitions. In this way, she hopes to have more influence on the tense housing market and to be able to curb the rise in rents.