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Announced

Completed

Covivio completed the acquisition of Godewind Immobilien for €697m.

Financials

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Transaction Value£579m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

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Acquisition

Tender Offer

Single Bidder

Germany

Public

Friendly

Commercial REITs

Majority

office properties

Completed

Synopsis

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Covivio, a European investment and development company, completed the acquisition of Godewind Immobilien, a listed office property company active in Germany, for €697m ($755m). "Covivio is continuing its European development and is now reaching an important step in its growth in Germany. With this acquisition, Covivio creates a €2.1bn ($2.3bn) offices platform located in Germany's most dynamic cities. As in France and Italy, Covivio intends to contribute to the design of the city of tomorrow and to offer high-performance, flexible and service-oriented spaces," Christophe Kullmann, Covivio CEO.

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