Sullivan & Cromwell LLP Logo
  • Home
  • Lawyers
  • Practices
  • Insights
  • About
  • Careers
  • Alumni
  • Client
© 2023 Sullivan & Cromwell LLP
    Home /  About /  News And Events /  Client Highlights
    Client Highlights

    S&C Advises Deutsche Wohnen in Landmark €18 Billion Real Estate Merger

    • Our Lawyers
    • Related Practices
    May 25, 2021

    German real estate giants Deutsche Wohnen SE and Vonovia SE have signed an agreement to combine the two companies in a deal that will create Europe’s largest residential real estate group, with a market capitalization of €45 billion ($54.9 billion). The deal, announced May 24, is this year’s biggest takeover in Europe and the biggest ever in the region’s real estate sector.

    Vonovia will launch a voluntary public takeover offer to all shareholders of Deutsche Wohnen. Shareholders will receive €52 in cash per share plus the cash dividend of €1.03 that is to be decided at the Annual General Meeting of Deutsche Wohnen in June. This takeover offer values Deutsche Wohnen at approx. €18 billion ($22 billion) (equity value). The combined company will operate under the name Vonovia SE.

    The combined company will own more than 500,000 apartments with a real estate value of approximately €90 billion.

    S&C’s long-standing client Deutsche Wohnen is one of the leading publicly listed residential property companies in Europe and Germany’s second-largest listed residential property company. Vonovia is Europe’s leading private residential real estate company.

    The S&C team advising Deutsche Wohnen was led by Carsten Berrar and Konstantin Technau and included Frederick Eggert, Peter Klormann, Frederic Wuensche and Jannis Rink. Max Birke and Miriam Peter advised on finance matters. Michael Rosenthal and Axel Beckmerhagen advised on competition matters.

    Read More
    Stay Updated

    Subscribe to stay current on S&C Insights.

    Our Lawyers

    Our Lawyers

    Axel Beckmerhagen Headshot Photo
    Axel Beckmerhagen
    London
    +44-20-7959-8900
    Email
    vCard
    Carsten Berrar Headshot Photo
    Carsten Berrar
    Frankfurt
    +49-69-4272-5200
    Email
    vCard
    Max Birke Headshot Photo
    Max Birke
    Frankfurt
    +49-69-4272-5200
    Email
    vCard
    Miriam P. Peter Headshot Photo
    Miriam P. Peter
    Frankfurt
    +49-69-4272-5200
    Email
    vCard
    Michael Rosenthal Headshot Photo
    Michael Rosenthal
    Brussels
    +32-2896-8000
    Email
    vCard
    Konstantin Technau Headshot Photo
    Konstantin Technau
    Frankfurt
    +49-69-4272-5200
    Email
    vCard
    Read More

    Related Practices

    • Commercial Real Estate
    • Credit & Leveraged Finance
    • Europe
    • European Competition
    • Mergers & Acquisitions
    Sullivan & Cromwell LLP Logo
    • Twitter icon
    • LinkedIn icon
    • RSS Feed icon
    • Podcasts icon
    • Home
    • Contact Us
    • Sitemap
    • Information Policy Relating to Cookies
    • Privacy Policy
    • California Privacy Policy
    • Website Notice
    • Attorney Advertising Notice
    © 2023 Sullivan & Cromwell LLP