Vonovia Majority Owner in Victoria Park
Sweden Vonovia has announced that its wholly-owned subsidiary Deutsche Annington Acquisition Holding GmbH (“Vonovia Acquisition Holding”) will become owner of more than 50 percent of the total number of votes in Victoria Park. Vonovia thus completes the public cash takeover offer that Vonovia, through Vonovia Acquisition Holding, announced to Victoria Park's shareholders on 3 May 2018. The final outcome will be announced on or around 21 June 2018.
A preliminary summation at the end of the acceptance period today, 18 June 2018, shows that Vonovia Acquisition Holding will become the owner of more than 50 percent of the total number of votes in Victoria Park, including the shares that Vonovia Acquisition Holding, through call options from large shareholders of Victoria Park, has a right to acquire in May 2019. All terms of the Offer are thus met and Vonovia Acquisition Holding will complete the Offer.
The final calculations of the shares tendered during the initial acceptance period is still in progress and the final outcome is expected to be announced on or around 21 June 2018. Settlement in respect of the Victoria Park shares duly tendered by 18 June 2018 is expected to occur on or around 28 June 2018.
Vonovia Acquisition Holding has also decided to extend the acceptance period for the Offer until 17.00 CET on 3 July 2018.