Vonovia plans to raise 8 billion euros in capital increase

BERLIN - 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.

The Vonovia executive board approved the step and secured the green light of the supervisory board, the company said in a statement.

Vonovia said last month that it had secured a total of 87.6% of voting rights in Deutsche Wohnen, successfully completing its takeover bid.

($1 = 0.8859 euros)