Vonovia plans to raise 8 billion euros in capital increase

Vonovia plans to raise 8 billion euros in capital increase
Vonovia plans to raise 8 billion euros in capital increase   -   Copyright  Thomson Reuters 2021   -  
By Reuters

<div> <p><span class="caps">BERLIN</span> – German real estate company Vonovia said on Sunday that it planned to raise some 8 billion euros ($9 billion) in a capital increase to partly finance its takeover of rival Deutsche Wohnen.</p> <p>The Vonovia executive board approved the step and secured the green light of the supervisory board, the company said in a statement.</p> <p>Vonovia said last month that it had secured a total of 87.6% of voting rights in Deutsche Wohnen, successfully completing its takeover bid.</p> <p>($1 = 0.8859 euros)</p> <p/> </div>