By Reuters Staff
3 Min Read
FRANKFURT (Reuters) -Europe’s largest residential property group, Vonovia SE, is close to making a takeover offer for its closest German rival Deutsche Wohnen, two people familiar with the plan told Reuters on Monday.
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The German companies, which were not immediately available for comment on Monday, are under pressure to make flats more energy-efficient and more suitable for the elderly, and a combined group could better shoulder future investments.
Vonovia, with property in German, Austrian and Swedish cities, plans to make an all-cash offer for Deutsche Wohnen, one of the sources said, adding that the chief executives of both groups had discussed a deal.
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German shares close flat Tuesday
Xinhua
19 May 2021, 03:18 GMT+10
FRANKFURT, May 18 (Xinhua) German stocks closed almost flat on Tuesday, with the benchmark DAX index down 10.04 points, or 0.07 percent, to close at 15,386.58 points. Manufacturing and electronics company Siemens lost 1.70 percent, the top loser among the blue chips, followed by telecommunications company Deutsche Telekom and sportswear and equipment maker Adidas, which lost 1.18 percent and 1.01 percent respectively. Housing association Deutsche Wohnen gained 4.21 percent, becoming the top gainer. European multinational online food-delivery service Delivery Hero and the energy division of Siemens Group, Siemens Energy advanced by 2.47 percent and 2.12 percent respectively. Automotive manufacturer Volkswagen was the most traded share with a turnover of 240.94 million euros (294.48 million U.S. dollars).
Deutsche EuroShop Q1 Profit Down
HAMBURG (dpa-AFX) - German-based international real estate investment company Deutsche EuroShop AG (DUSCF.PK) reported that its first-quarter profit declined to 22.3 million euros from last year s 28.0 million euros, significantly impacted by coronavirus pandemic.
Net operating income fell by 35% to 32.5 million euros, and EBIT by 34.9% to 31.4 million euros.
Earnings before taxes and excluding measurement gains/losses dropped to 23.7 million euros, corresponding to a 41.9% decrease compared to the same period in the previous year when the pandemic had yet to make any real impact.
EPRA earnings fell by 40.0% to 23.1 million euros, funds from operations by 41.7% to 22.5 million euros.
Deutsche Wohnen Q1 Earnings Rise, FFO Up
BERLIN (dpa-AFX) - Residential property company Deutsche Wohnen SE (DWHHF.PK) Wednesday reported that its earnings after taxes for the first quarter rose to 199.7 million euros from 125.4 million euros last year.
Earnings from residential property rose by 3.6 percent to 193 million euros, while earnings from Nursing and Assisted were down by 4.9 percent to 19.6 million euros.
FFO for the quarter grew to 154.8 million euros from 142.3 million euros, and FFO per share increased to 0.45 euro from 0.40 euro last year.
Adjusted EBITDA for the period rose more than 11 percent to 208.6 million euros from last year s 187.8 million euros.