BERLIN (dpa-AFX) - Vonovia SE announced a mandatory cash offer to the shareholders of Hembla AB.
Vonovia already owns about 71.69% of the voting rights or about 64.21% of the share capital and offers 215 Swedish kronor in cash per B-share, the same price it recently paid for its majority stake to previous owner, The Blackstone Group.
Vonovia said it plans to leave in place Hembla's existing dividend policy of paying no dividend to its shareholders in the coming years, since investments in the existing properties provide a good return.
The total value for all shares in Hembla amounts to about 19.979 billion kronor.
Copyright RTT News/dpa-AFX