Announced
Completed
Financials
Tags
Public
real estate developer
Natural
Real Estate Holding and Development
Acquisition
Sweden
Single Bidder
Majority
Private Equity
Completed
Synopsis
Vonovia, which provides real estate services, completed the acquisition of a 61% stake in Hembla, a real estate company, from Blackstone Group for $1.3bn. Closing of the transaction is subject to antitrust clearance by the Swedish merger control authorities. “We are long-term investors in residential housing and offer attractive and high-quality living. Since we acquired Victoria Park last year, we have found that our strategy to deliver high-quality living standards to our tenants has the full support of our Swedish colleagues. Our investment in Hembla is fully complementary to our present footprint. We have a track record of creating benefits for tenants and shareholders alike, and we achieve this through our long-term expertise, our comprehensive services, better procurement, and better funding. With this sustainable and very long-term course, we are living up to our social responsibility,” Rolf Buch, Vonovia CEO.
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