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Vonovia completes acceptance period for mandatory offer for Hembla

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Vonovia completes acceptance period for mandatory offer for Hembla

Vonovia SE's offer to buy the shares it does not own in Hembla AB (publ) was accepted by shareholders owning 1,204,821 Hembla B-shares during the extended acceptance period, which ended Jan. 8.

The acquired shares of Vonovia's subsidiary HomeStar InvestCo AB corresponds to roughly 1.3% of the share capital and about 1.0% of the total voting rights in Hembla. After the extended offer period, the buyer now holds in total 6,136,989 A shares and 82,487,247 B shares in Hembla, accounting for 95.4% of the share capital and 96.3% of the total voting rights in Hembla.

Vonovia, through HomeStar, launched a mandatory offer Nov. 7, 2019, to acquire the shares it does not own in Hembla for 215 kronor in cash per B share, valuing the Swedish residential property company's shares at roughly 19.98 billion kronor.

Settlement for the shareholders who accepted the offer during the extended period will be Jan. 15. Vonovia will not extend further the acceptance period.

As of Jan. 8, US$1 was equivalent to 9.46 Swedish kronor.