Nov
25

Deutsche Wohnen Said to Agree $1.1 Billion Homes Acquisition

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Deutsche Wohnen AG, which is fighting an unsolicited bid by a bigger competitor, agreed to buy about 14,000 homes from Patrizia Immobilien AG for around 1 billion euros ($1.1 billion), a person with knowledge of the deal said.

The German apartments are held in the “Obligo” portfolio, said the person, who asked not to be identified because the information is private. An acquisition could scuttle Vonovia’s 9.9 billion-euro bid for Deutsche Wohnen, based on the terms of the offer document.

Representatives for Deutsche Wohnen and Vonovia declined to comment. A spokesman for Patrizia didn’t immediately respond to a request for comment…

Deutsche Wohnen Said to Agree $1.1 Billion Homes Acquisition

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