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Vonovia not in talks with Starwood over Victoria Park governance

Vonovia SE said it has no agreements with Starwood Capital Group over the governance of Victoria Park AB (publ), the Swedish developer that both parties have launched takeover offers for.

Vonovia made the statement to acknowledge that Victoria Park's free float will be significantly reduced if its bid for the company succeeds, given that the scenario would mean that it has control over 50% of the target's voting rights while Starwood has 32.1%.

Starwood's 8.68 billion Swedish kronor bid for Victoria Park closed June 1, and Vonovia's roughly 9.56 billion kronor offer closes June 18.

As of June 14, US$1 was equivalent to 8.69 Swedish kronor.