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Vonovia buys Starwood's stake in Swedish residential company

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Vonovia buys Starwood's stake in Swedish residential company

German residential company Vonovia SE, through a subsidiary, purchased Starwood Capital Group's stake in Victoria Park AB (publ), a Swedish residential property company.

Vonovia acquired 27,074,397 class A and 32,486,304 class B shares held by Starwood, giving it control of 81.4% of total shares of Victoria Park and 81.1% of total voting rights.

Vonovia has the right to acquire an additional 10.04% of the shares in May 2019, corresponding to 12.35% of the voting rights in Victoria Park.

Vonovia made an initial bid for Victoria Park in May, competing with Starwood's existing takeover offer for the Swedish company, which resulted in Starwood acquiring a 32% voting stake in Victoria Park in June.