Vonovia acquires entire Starwood stake in Victoria Park

• Vonovia now controls 81.4% of shares (excl. call options for 10.04% of the shares)

Bochum, 5 September 2018 – Vonovia SE has acquired Starwood Capital Group’s full stake in Swedish residential property company Victoria Park AB. The stake was held by a controlled affiliate of Starwood Capital Group. Vonovia has today, through a subsidiary, entered into an agreement to indirectly acquire Starwood’s stake consisting of 27,074,397 shares of Class A and 32,486,304 shares of Class B, which will give Vonovia control over 81.4% of the total number of shares of Victoria Park and 81.1% of the total number of voting rights.

The acquisition is made on terms that are not more favourable than the price Vonovia offered to all shareholders in Victoria Park in its public offer announced on 3 May 2018. This has been confirmed by the Swedish Securities Council (AMN 2018:23).

In addition, as previously communicated, Vonovia has the right, but not the obligation, during May 2019 to acquire an additional 10.04% of the shares corresponding to 12.35% of the voting rights in Victoria Park, under the option agreements entered into in May 2018.

Vonovia had announced its public cash offer for all shares in Victoria Park on 3 May 2018 and reported on 18 June 2018 the successful result of the offer. Prior to the Vonovia offer, a controlled affiliate of Starwood Capital Group had launched a bid for Victoria Park that resulted in Starwood owning 24.4% of the shares and 32.1% of the voting rights in Victoria Park.            

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The information provided herein was submitted for publication on 5 September 2018 at 08:30 a.m. CET.

For further information, please contact:

Rene Hoffmann                                                                Klaus Markus

Phone: +49 (0)234 314-1629                                             Phone: +49 (0)234 314-1149

E-mail: rene.hoffmann@vonovia.de                                  E-mail: klaus.markus@vonovia.de

Vonovia in brief

Vonovia SE is Europe's leading housing company. Vonovia currently owns around 400,000 residential units in all attractive cities and regions in Germany and Austria. Its portfolio is worth approximately EUR 41.7 billion. 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 is also creating more and more new apartments by realizing infill developments and adding 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, GPR 250 and EPRA/NAREIT Europe. Vonovia has a workforce of approximately 9,700 employees.

Victoria Park in brief 

Victoria Park is a listed property company, which, through long-term management and social responsibility for more attractive living, creates value in an expanding property portfolio in growth districts in Sweden. Victoria Park’s property portfolio amounts to 1,110,000 square metres, comprising 14,000 flats, with a market value of SEK 17.1 billion. The shares in Victoria Park are listed for trading on Nasdaq Stockholm Mid Cap.