Vonovia buys option for stake in rival Adler

Reuters2021-10-08

BERLIN, Oct 8 (Reuters) - German real estate firm Vonovia said on Friday it had bought an option to acquire around 13% stake in smaller rival Adler as its shares fell as much as 33% on Wednesday after an activist investor said it was “not investible”.

Vonovia said the option gives it the right to buy Adler shares from Luxembourg-based property investor Aggregate Holdings over the next 18 months at a strike price of 14 euros ($16.16) per share. ($1 = 0.8661 euros) (Reporting by Zuzanna Szymanska Editing by Riham Alkousaa)

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2021-10-08
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