Investor Relations Activities

Vonovia SE is committed to a transparent, ongoing dialogue with its shareholders and potential investors. We are continuing with our road shows and meetings during the coronavirus pandemic, albeit on a virtual basis. In the first nine months of 2021, Vonovia participated in a total of 26 investors’ conference days and organized 9 roadshow days.

In addition, numerous one-on-one meetings, video conferences and conference calls were held with investors and analysts to keep them informed of current developments and special issues. There were two main topics that dominated discussions in the third quarter of 2021: first, the announcement of the merger of Vonovia and Deutsche Wohnen and second, the German Bundestag elections in September and the expropriation referendum in Berlin.

We will continue to communicate openly with the capital market. Various road shows, conferences and participation in investor forums have already been planned. Information can be found in the Financial Calendar on our Investor Relations website.

Takeover Offer for the Shareholders of Deutsche Wohnen SE

Following the announcements made on August 1 and August 5, 2021, Vonovia SE made another voluntary public takeover offer for all outstanding shares to the shareholders of Deutsche Wohnen SE. Vonovia offered a cash consideration of € 53.00 for each share in Deutsche Wohnen.

As the further acceptance deadline has passed, the number of shares for which the offer was accepted has been final since October 26, 2021, namely 347,728,483 shares. This means that, following the end of all acceptance deadlines for the voluntary public takeover offer made to the shareholders in Deutsche Wohnen SE, Vonovia SE holds 87.6% of the voting rights in Deutsche Wohnen (on a fully diluted basis).

The results can also be found on Vonovia’s transaction website.

Analyst Assessments

Approximately 26 international analysts publish studies on Vonovia on a regular basis, whereby five analysts suspended their rating temporarily due to their involvement in current transactions (as of September 30, 2021). The average target share price was € 64.19 as of September 30, 2021. Of these analysts, 67% issued a “buy” recommendation, with 28% issuing a “hold” recommendation and 5% recommending that investors sell the company’s shares.