Vonovia to buy Austrian developer for US$1.9bil


  • Business Premium
  • Tuesday, 06 Sep 2016

BERLIN: Vonovia SE agreed to buy Austrian developer Conwert Immobilien Invest SE for about 1.7 billion euros (US$1.9bil), a fresh attempt to grow with an acquisition after a bid for its largest German competitor failed.

Vonovia offered 74 of its shares for every 149 Conwert shares, valuing each Conwert share at 17.58 euros, the Bochum, Germany-based real estate company said in a statement.

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Business , Vonovia , Conwert , buy , real estate , Deutsche Wohnen , stocks , shares ,

   

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