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Deutsche Annington Immobilien SE acquires SÜDEWO Group with around 20,000 homes in Baden-Württemberg

Deutsche Annington Immobilien SE / Key word(s): Acquisition/Capital Increase

2015-06-14 / 22:22


Deutsche Annington acquires SÜDEWO Group with around 20,000 homes in Baden-Württemberg

- Acquisition of SÜDEWO Group, which has 19,800 homes in total, agreed with a total transaction volume of EUR 1.9bn

- SÜDEWO homes are a perfect addition to Deutsche Annington's presence in southern Germany, where it currently owns around 15,000 homes

- Goal of establishing a balanced portfolio in all attractive regions of Germany

- Plan to finance the transaction through a capital increase with subscription rights from authorised capital

Bochum, 14 June 2015 - Deutsche Annington Immobilien SE ('Deutsche Annington') intends to significantly expand its presence in southern Germany by acquiring SÜDEWO Group. SÜDEWO Group has a total of 19,800 homes. Deutsche Annington has reached a sales and purchase agreement with the group of investors who hold the shares in SÜDEWO Group. The total transaction volume for the acquisition of SÜDEWO Group is EUR 1.9bn. The closing is expected at the beginning of July.

'In the highly fragmented German market for rented housing we are availing of another opportunity to strategically expand our nationwide position,' said Rolf Buch, CEO of Deutsche Annington. 'Following the acquisition of Vitus Group in northern Germany, the acquisition of DeWAG in the south and the merger with GAGFAH, through which we strengthened our presence in the metropolitan regions of Berlin, Hamburg and Dresden, we are now further expanding our market position in the particularly attractive southern region. With the acquisition of the SÜDEWO Group we are moving a step closer to our goal of having a balanced portfolio in all attractive regions of Germany. Our business policy is focused on creating attractive and affordable housing for our tenants, thereby ensuring the sustainably successful performance of our business. We are continuing this commitment with the current acquisition of SÜDEWO Group. The tenants of both companies will benefit from cost advantages, high investment in maintenance and regional tenant support.'

Deutsche Annington is taking on all obligations, without restrictions, from the existing Social Charter, which secures the interests of tenants and the continuation of the respective company locations. In addition, Deutsche Annington meets the demanding and varied criteria that were set by the sellers. These include, for example, investment in the portfolio, demonstrable expertise in tenant support and a coherent, long-term strategy focused on tenant interests.

The SÜDEWO portfolio will strengthen Deutsche Annington's strategic presence in Baden-Württemberg, where the company is already represented with around 15,000 homes. The newly acquired portfolio has a very low vacancy rate of just 2.4% and is spread over several locations, alongside the cities of Stuttgart, Ulm and Mannheim, in a region with a remarkable dynamic economy.

As announced today, the company plans to conduct a capital increase with subscription rights from authorised capital with expected gross issue proceeds of EUR 2.25 bn to finance the acquisition of the SÜDEWO Group.


Klaus Markus
Head of Communications
Phone: +49 234 314 - 1149
Thomas Eisenlohr
Head of Investor Relations
Phone: +49 234 314 - 2384

About Deutsche Annington

Deutsche Annington has its headquarters in Bochum and is Germany's leading real estate company with European dimensions. Throughout Germany, Deutsche Annington is present with 5,700 employees and offers customer-oriented services. With the integration of the 144,000 residential units of GAGFAH, the company now owns about 350,000 residential units, which are located mainly in major German cities and the associated catchment areas. The operating subsidiaries are full service providers of a wide range of services in the area of real estate management and facility management. The portfolio is worth around 21 billion Euros. Deutsche Annington is listed on the MDAX of the German Stock Exchange. (31 March 2015)

Additional information on the shares of Deutsche Annington:
Listing: regulated market / Prime Standard, Frankfurt Stock Exchange
Common Code: 094567408
Registered office of Deutsche Annington: Münsterstrasse 248, 40470 Düsseldorf, Germany
Business address of Deutsche Annington: Philippstrasse 3, 44803 Bochum, Germany

Important information

This press release was prepared by Deutsche Annington Immobilien SE and/or its subsidiaries (together 'DAIG') exclusively for information purposes.

This press release does not constitute or form part of, and should not be construed as, an offer, solicitation or invitation to subscribe for, underwrite or otherwise acquire, any securities of DA or any of its subsidiaries nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of DA or any of its subsidiaries, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever.

This press release may contain statements, estimates, opinions and predictions in relation to the expected future development of DAIG ('forward-looking statements'), which reflect various assumptions concerning, for example, results derived from the current business of DAIG or from public sources, which are not subjected to an independent audit or detailed assessment by DAIG and could later prove to be incorrect. All forward-looking statements reflect current expectations based on the current business plan and various other assumptions and therefore contain considerable risks and uncertainties. All forward-looking statements should therefore not be regarded as a guarantee of future performance or results, and also do not constitute necessarily true indicators that the expected results will be achieved. All forward-looking statements relate only to the date of issuance of this press release to the recipient. It is up to the recipients of this press release to conduct their own more detailed assessments of the significance of these forward-looking statements and underlying assumptions.

DAIG excludes all liability for any direct or indirect damage or losses or consequential damage or losses and penalties that could be incurred by the recipients through the use of, or otherwise connected with, the press release, its contents, in particular all forward-looking statements, to the extent permitted by law. DAIG gives no guarantee or assurance (either express or implied) with respect to the information in this press release.

DAIG is under no obligation to update or correct the information, forward-looking statements or conclusions contained in this press release or to include subsequent events or circumstances or to correct inaccuracies that become known after the date of this press release.


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