BERLIN (dpa-AFX) - The public takeover offer from Vonovia SE (DAIMF) to the shareholders of Swedish residential property company Victoria Park AB has been successful. Vonovia exceeded the minimum acceptance threshold set as condition for closing of the take-over bid for Victoria Park of more than 50% of the voting rights within the initial acceptance period. All conditions for completion of the offer have thus been satisfied.
Based on the preliminary calculations, shares representing at least 46% of the voting rights in Victoria Park have been tendered during the initial acceptance period. In addition, Vonovia has obtained call options for 12.35% (12.32% fully diluted) of the voting rights. Hence, upon exercise of the call options Vonovia will hold at least 58% of the voting rights in Victoria Park. The final results will be determined in the morning of 21 June 2018, following final calculations of the shares tendered during the initial acceptance period.
Vonovia also announced that the acceptance period has been extended until 3 July 2018 to give shareholders in Victoria Park who have not yet tendered their shares the opportunity to accept the offer within this additional acceptance period.
The settlement for shares tendered within the initial acceptance period is expected to take place on or around 28 June 2018.
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