Vonovia buys Swedish Hembla from Blackstone
Reuters
Published Sep 23, 2019 06:27
Vonovia buys Swedish Hembla from Blackstone
FRANKFURT (Reuters) - German residential property company Vonovia (DE:VNAn) on Monday said it agreed with Vega Holdco, a subsidiary of investment firm Blackstone (N:BX), on the acquisition of 69.3% of Swedish peer Hembla, subject to clearance by Swedish antitrust authorities.
The acquisition, at a purchasing price equivalent to 1.14 billion euros ($1.26 billion), would be done via its subsidiary HomeStart Investco, Vonovia said.
It said the move was in line with its international expansion strategy, adding that clearance from cartel watchers was expected in October or November.
Hembla has 21,411 flats, which are primarily based in Stockholm.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.