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Deutsche Wohnen:Minority shareholder buyout (DPLTA): Difference between revisions
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== Past DPLTA Real Estate Actions In Germany == | == Past DPLTA Real Estate Actions In Germany == | ||
=== Deutsche Wohnen AG and GSW Immobilien DPLTA === | |||
* On November 7, 2013, Deutsche Wohnen Completed the takeover of 92.02% of outstanding share and voting rights held by GSW Immobilien shareholders. | |||
* On March 7, 2014, management of the two companies agreed to conclude a domination and profit and loss sharing agreement (DPLTA). | |||
* The DPLTA offered GSW Immobilien minority shareholders the following: guaranteed dividend in the amount of EUR 1.40 (EUR 1.66 per share gross) and 7 shares of Deutsche Wohnen in exchange for 3 shares of GSW Immobilien. | |||
* Price of EUR 29.54 for GSW Immobilien AG shares and EUR 14.46 for Deutsche Wohnen AG shares were used. The prices were arrived at by weighing the average prices for the three months before announcement of DPLTA on March 7, 2024. | |||
* The guaranteed dividend were based on a 2003 court ruling which stated that it should be equal to the "prospective distributable gross share in profit per share as a fixed amount." | |||
* CBRE valued GSW Immobilien AG property portfolio at EUR 20.6 million in 2013 versus EUR 76.4 million in 2012. | |||
* GSW Immobilien had a net asset value (NAV) of EUR 30.02 in 2013, EUR 30.19 in 2012 and EUR 29.72 in 2012. | |||
* In 2015, Deutsche Wohnen raised the ratio to 3:7.079 upon the request of GSW shareholders<ref name=":0">https://www.annualreports.com/HostedData/AnnualReportArchive/d/deutsche-wohnen_2015.pdf</ref>. | |||
* Dissatisfied with the valuation, GSW minority shareholders went to court to challenge it<ref name=":0" />. The appraisal proceeding is still pending<ref>file:///C:/Users/Admin/Downloads/DEUTSCHE%20WOHNEN%20SE%20_%20Gesch%C3%A4ftsbericht%202023.pdf</ref>. | |||
== Ownership Structure == | == Ownership Structure == | ||