Business
Vonovia plans closer integration with Deutsche Wohnen – Control and profit transfer agreement planned
Vonovia plans to intensify the integration of Deutsche Wohnen through a domination and profit transfer agreement.
Germany's largest residential real estate company, Vonovia, aims to strengthen its ties with its subsidiary, Deutsche Wohnen.
On Wednesday evening, both companies announced their intention to conclude a domination and profit transfer agreement.
As part of this step, external shareholders of Deutsche Wohnen shall be able to exchange their shares for newly issued Vonovia shares. Additionally, an annual compensation payment is planned for the duration of the contract.
The exact structure and details of the contract are still being worked out, the statement said.
To finalize the contract, extraordinary general meetings of both companies are to be held in December 2024.
This strategic measure is intended to give Vonovia even greater control over Deutsche Wohnen and further optimize synergies within the group.
