Vonovia completed the acquisition of 61% stake in Hembla from Blackstone Group for $1.3bn.

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.