DGAP-Adhoc

Vonovia SE: Minimum acceptance level of Deutsche Wohnen takeover offer likely not reached

DGAP-Ad-hoc: Vonovia SE / Key word(s): Offer Vonovia SE: Minimum acceptance level of Deutsche Wohnen takeover offer likely not reached 23-Jul-2021 / 16:29 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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Public disclosure of inside information according to Article 17 para. 1 of the Regulation (EU) No 596/2014 on market abuse

Vonovia SE: Minimum acceptance level of Deutsche Wohnen takeover offer likely not reached

Bochum, 23 July 2021

Vonovia SE ("Vonovia") will likely not reach the minimum acceptance level of its voluntary public takeover offer to shareholders of Deutsche Wohnen AG ("Deutsche Wohnen"). This assumes that there are no material increases of the acceptance level during the remaining rebooking period (Nachbuchungsfrist), which ends today at 18:00 CEST. 

Based on the currently available information, Vonovia's tender offer as published on 23 June 2021, the acceptance period of which expired on 21 July 2021, 24:00 CEST, has been accepted for approximately 47.62% of all Deutsche Wohnen shares (taking into account the Deutsche Wohnen shares already held directly by Vonovia).  

A key condition for the completion (Vollzug) of the offer is that Vonovia reaches the minimum acceptance threshold of more than 50 % of all Deutsche Wohnen shares (as defined in Section 11.1.1 of the offer document). 

Vonovia expects to publish the final number of Deutsche Wohnen shares for which the offer was accepted during the regular acceptance period on 26 July 2021. 

Vonovia continues to view the combination of the two companies as strategically compelling. Vonovia also still regards the offer price of EUR 52 per Deutsche Wohnen share as fair and will carefully consider all options available to it, including for example the sale of Deutsche Wohnen shares already owned by Vonovia, the purchase of additional Deutsche Wohnen shares or the launch of another public offer.