19.12.2016
Vonovia SE DE000A1ML7J1
DGAP-News: Vonovia SE: Vonovia successful with conwert offer - 50% acceptance threshold exceeded
DGAP-News: Vonovia SE / Key word(s): Takeover
Vonovia SE: Vonovia successful with conwert offer - 50% acceptance threshold
exceeded (news with additional features)
19.12.2016 / 17:56
The issuer is solely responsible for the content of this announcement.
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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO
OR FROM ANY OTHER JURISDICTION WHERE TO DO SO WOULD VIOLATE THE LAWS OF
SUCH JURISDICTION. THIS ANNOUNCEMENT IS NEITHER AN OFFER TO EXCHANGE, SELL
OR PURCHASE NOR A SOLICITATION OF AN OFFER TO EXCHANGE, SELL OR PURCHASE
SHARES.
Vonovia successful with conwert offer -
50% acceptance threshold exceeded
Bochum, 19. December 2016 - Vonovia SE ("Vonovia") has surpassed the
minimum acceptance threshold of 50% plus 1 share for its takeover offer for
conwert Immobilien Invest SE, Vienna ("conwert") at the end of the initial
acceptance period today at 17:00 CET. Vonovia therefore confirms that its
offer has been successful.
The final results will become available after expiry of the subsequent re-
booking period on 21 December 2016, 17:00 CET, and will be published on
Vonovia's website (en.vonovia-offer.de) on 22 December 2016 and in the
Wiener Zeitung on 23 December 2016.
conwert shareholders who have not yet accepted the offer can tender their
shares, at unchanged terms, during the additional acceptance period which
will commence on 23 December 2016 and end on 23 March 2017 at 17:00 CET.
Rolf Buch, Vonovia's CEO said: "The takeover will be beneficial to
shareholders and tenants of both companies. I look forward to working with
the conwert management on a seamless integration of our operations."
Dr Alexander Proschofsky, chairman of the conwert administrative board,
adds: "The majority of our shareholders have decided that they support a
combination with Vonovia and see the attractive opportunity to develop
conwert's potential under a new roof."
Both the Austrian Federal Competition Authority and the German Federal
Cartel Office have already cleared the transaction.
The settlement of the offer for shares tendered during the initial
acceptance period is expected for mid-January 2017 and for shares tendered
during the additional acceptance period for early April 2017.
About Vonovia
Vonovia SE is Germany's leading nationwide residential real estate company.
Vonovia currently owns and manages around 338,000 residential units in all
of Germany's attractive cities and regions. Its portfolio is worth
approximately EUR 24 billion. An additional 60,000 or so third-party
apartments are also managed by Vonovia. As a modern service company,
Vonovia focuses on customer orientation and tenant satisfaction. Offering
tenants affordable, attractive and livable homes is a prerequisite for the
company's successful development. Accordingly, Vonovia makes long-term
investments in the maintenance, modernization and senior-friendly
conversion of its properties. The company will also be creating more and
more new apartments by realizing infill developments and adding on to
existing buildings.
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
7,100 employees.
Additional Information:
Approval: Regulated Market / Prime Standard, Frankfurt Stock Exchange
ISIN: DE000A1ML7J1
WKN: A1ML7J
Common code: 094567408
Registered headquarters of Vonovia SE: Münsterstraße 248, 40470 Düsseldorf,
Germany
Business address of Vonovia SE: Philippstraße 3, 44803 Bochum, Germany
This press release has been issued by Vonovia SE (Vonovia) solely for
information purposes. Moreover, it is neither an offer to exchange, sell or
purchase nor a solicitation to exchange, sell or purchase Vonovia shares or
shares of conwert Immobilien Invest SE (conwert). The conditions and
further provisions relating to the takeover offer are published in the
offer document which has been published on 17 November 2016. Investors and
holders of conwert shares are strongly recommended to review the offer
document and all other documents related to the takeover offer, as they
contain important information. The voluntary public takeover offer will
continue to be conducted solely on the basis of the applicable provisions
of the Austrian law, especially the Austrian Takeover Code. It is not being
and will not be conducted in accordance with the legal provisions of
jurisdictions other than Austria.
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 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
appropriate 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.
The shares referenced herein have not been and will not be registered under
the U.S. Securities Act of 1933, as amended (Securities Act), or with any
securities regulatory authority of any state or any other jurisdiction of
the USA. Securities may only be offered or sold within the USA pursuant to,
or in a transaction not subject to or exempt from, the registration
requirement of the Securities Act. There will be no public offering in the
USA. If Vonovia shares may, in Vonovia's opinion, not be offered or
delivered to a U.S. shareholder according to the U.S. Securities Act of
1933, such U.S. shareholder that validly accepts the offer will receive, in
lieu of Vonovia shares to which it would otherwise be entitled the net cash
proceeds of the sale of such Vonovia shares in euro.
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Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=SGSTAGKUVN
Document title: Vonovia successful with conwert offer
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19.12.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Vonovia SE
Philippstraße 3
44803 Bochum
Germany
Phone: +49 234 314 2384
Fax: +49 234 314 888 2384
E-mail: [email protected]
Internet: www.vonovia.de
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
End of News DGAP News Service
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531489 19.12.2016
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