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14

Deutsche Annington to Buy Sudewo Homes for $2.1 Billion

By Tony Seruga

Deutsche Annington Immobilien SE, Germany’s largest property company, agreed to buy Sudewo Group for 1.9 billion euros ($2.1 billion), including debt, from funds managed by Patrizia Immobilien AG.

Deutsche Annington will issue new shares valued at about 2.25 billion euros in order to pay for the deal, the Bochum-based company said in a statement Sunday. Sudewo owns 19,800 apartments, mainly in the southern state of Baden Wuerttemberg. Deutsche Annington will pay 1.1 billion euros for the company and take on debt valued at about 800 million euros…

Deutsche Annington to Buy Sudewo Homes for $2.1 Billion

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