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Empresas y finanzas

Deutsche Annington in 2.25 billion euro cap hike for Suedewo takeover


    FRANKFURT (Reuters) - German property firm Deutsche Annington will buy regional property firm Suedewo for 1.9 billion euros (£1.3 billion) and launch a 2.25 billion euro capital hike to fund it, the company said in a statement late on Sunday.

    The acquisition comprises a purchase price of about 1.1 billion euros with an additional assumption of financial liabilities totalling approximately 0.8 billion euros, the company said.

    Annington will offer new shares at 20.90 euros each to existing shareholders in a ratio of 3 new shares for every 10 owned, the company said.

    Suedewo owns about 19,800 apartments managed by entities affiliated with PATRIZIA Immobilien AG mainly in the state of Baden-Wuerttemberg in south west Germany.

    (Reporting by Thomas Atkins)