22 April 2018
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Vonovia acquires Austrian Buwog

19 December 17 - RE+D Magazine
Vonovia acquires Austrian Buwog

COMPANIES

Solum Property Solutions

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

Savills

Consultant - GREECE

IBI Group

Consultant - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
Vonovia, Germany's biggest residential property company, has agreed to buy Austrian counterpart Buwog in a cash deal valuing the latter at €5.2 billion, the two companies said on Monday according to the dailymail.com.

 

The deal will increase the size of Vonovia's portfolio to almost 400,000 flats from around 350,000 now and increase sharply its capacity for building new housing.

Buwog's share price was up 17.2% at €28.84 by 1008 GMT, slightly below the offer price of €29.05 per share.

Shares in Vonovia were flat, having risen 40% over the last year on increasing demand for housing in Europe's largest economy.

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