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Germany: Advancing $2.3B real estate buy could alter EU rankings

 |  October 14, 2013

Germany-based real estate giant GSW has reportedly encouraged its shareholders Monday to accept a buyout offer from Deutsche Wohnen in a $2.3 billion move that could alter the rankings of the EU’s real estate market.

Reports say if the buyout succeeds, Deutsche Wohnen would take a step closer to entering the top-five largest real estate firms in the EU.

The deal has reportedly already retained regulatory clearance for the deal. According to GSW, the combined company would continue to run operations within the lucrative Berlin market and expand to others, though the company declined to offer specific growth plans.

If shareholders clear the offer, the buyout would be Germany’s largest in the real estate market since 2008.

Full Content: Reuters

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