Bochum, October 8, 2015. This week, Vonovia SE hedged existing interest rate risks resulting from the merger with GAGFAH. The transaction volume initially amounts to € 2.7 billion. With the transactions completed, Vonovia has already been able to secure more than 80 % of the expected financial synergies and reduces the average financing costs to approximately 2.3 % from 2017.
Klaus MarkusHead of Corporate CommunicationsPhone: +49 234 314 1149Klaus.markus@Vonovia.de
Thomas EisenlohrHead of Investor RelationsPhone: + 49 234 314 2384Thomas.Eisenlohr@vonovia.de
About VonoviaVonovia SE is Germany’s leading residential real estate company. Vonovia currently owns and manages some 370,000 residential units in attractive cities and regions throughout Germany. As a modern service company, Vonovia focuses on customer orientation and tenant satisfaction. Offering tenants affordable, attractive and livable homes is a prerequisite for the company’s continued successful development.
Vonovia’s residential units are located in adjoining settlements at approximately 700 locations in Germany. At all of these locations, the tenants’ concerns are addressed by caretakers and the company’s own maintenance organization. This intimacy with our customers guarantees needs-based, rapid and reliable service.
Vonovia makes long-term investments in the maintenance, modernization and age-appropriate conversion of its properties. The company also teams up with others at the local level to support social and cultural projects that enrich community life.
The company, which is based in Bochum, has been listed on the stock exchange since 2013. Vonovia has a workforce of approximately 5,900 employees.
This press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia (“forward-looking statements”) that reproduce various assumptions regarding results derived from Vonovia’s current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the cur-rent business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for fu-ture performance or results and, furthermore, do not necessarily constitute appropriate indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying as-sumptions. Vonovia accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its con-tents and, in particular, all forward-looking statements or in any other way, as far as this is legally per-missible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subse-quent events or circumstances or to report inaccuracies that become known after the date of this press release.