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Deutsche Wohnen:Minority shareholder buyout (DPLTA) (view source)

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== Ownership Structure ==
== Ownership Structure ==


* The German Securities Act (WpHG) requires any share ownership that exceeds or go below threshold of 3%, 5%, 10%, 15%, 20%, 25%, 30%, 50% or 75% to be made public<ref>https://www.bafin.de/EN/Aufsicht/BoersenMaerkte/Emittentenleitfaden/Modul2/Kapitel1/Kapitel1_2/Kapitel1_2_3/kapitel1_2_3_node_en.html</ref>.
* The German Securities Act (WpHG) requires any share ownership that exceeds or go below threshold of 3%, 5%, 10%, 15%, 20%, 25%, 30%, 50% or 75% to be made public<ref>https://www.bafin.de/EN/Aufsicht/BoersenMaerkte/Emittentenleitfaden/Modul2/Kapitel1/Kapitel1_2/Kapitel1_2_3/kapitel1_2_3_node_en.html</ref>.<br />
* After Vonovia took 86.87% stake in November 2021<ref>https://www.eqs-news.com/company/deutsche-wohnen-se/news/5b7a575c-ea7c-11e8-902f-2c44fd856d8c?newsType=pvr,nvr</ref>, Vonovia mostly stopped publishing share ownership data, meaning that majority of those that held more than 3% stake in the company sold their shares to Vonovia. As such, it's currently hard to tell what institutional investors have in the company. However, there is a high chance that Elliot Investment still has its 3% stake<ref>https://ir.deutsche-wohnen.com/websites/dewohnen/English/6100/news.html?newsID=d0295f86-5151-4ac2-bc92-5ca674b7713a</ref> in Deutsche Wohnen given it refused to sell its shares in 2021<ref>https://www.bloomberg.com/news/articles/2024-09-19/vonovia-deal-offers-way-out-for-elliott-s-deutsche-wohnen-bet</ref>.  It also took Vonovia to court last year for taking a loan from Deutsche Wohnen<ref>https://www.reuters.com/business/elliott-seeks-investigation-into-loan-by-deutsche-wohnen-vonovia-2023-05-22/</ref>. Davidson Kempner is another institution that had concerns over the acquisition of Deutsche Wohnen shares by Vonovia and had filed for a court injunction. However, it later withdrew it<ref>https://www.handelsblatt.com/finanzen/immobilien/immobilienfusion-gefaehrlicher-praezedenzfall-hedgefonds-greift-vonovia-und-deutsche-wohnen-frontal-an/27638290.html</ref>. '''Davidson Kempner also had 3% stake in Deutsche Wohnen'''<ref>https://www.prnewswire.com/news-releases/statement-from-davidson-kempner-regarding-the-deutsche-wohnen-takeover-offer-by-vonovia-301383820.html</ref>.
 
[[File:DW ownership structure.png|left|thumb|747x747px|https://ir.deutsche-wohnen.com/websites/dewohnen/English/1400/shareholder-structure.html]]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


=== Shareholder Structure ===
{| class="wikitable"
|+
!Entity
!
=== Stake<ref>https://ir.deutsche-wohnen.com/websites/dewohnen/English/1400/shareholder-structure.html</ref> ===
|-
|Vonovia
|86.87%
|-
|Own shares
|0.84%
|-
|Other
|12.29%
|}


=== Last Reported Ownership Stakes ===


* It's possible that some of the entities with majority stake sold some or all of the stake to Vonovia and Deutsche Wohnen failed to report the changes. UBS and Goldman Sachs, for instance, considered the offer to be fair<ref>https://ir.deutsche-wohnen.com/download/companies/dewohnen/takeover_information/20210831_Stellungnahme_DE.pdf</ref>.<br />


{| class="wikitable"
|+
!Entity
!Last reported entity stake up to January 2020
!Last reported date
!Comment
|-
|Vonovia
|86.87%<ref>https://www.eqs-news.com/news/pvr/deutsche-wohnen-se-release-according-to-article-40-section-1-of-the-wphg-the-german-securities-trading-act-with-the-objective-of-europe-wide-distribution/1485020</ref>
|December 2023
|
|-
|Citi Group
|4.25%<ref>https://www.eqs-news.com/news/pvr/deutsche-wohnen-se-release-according-to-article-40-section-1-of-the-wphg-the-german-securities-trading-act-with-the-objective-of-europe-wide-distribution/1468714</ref>
|August 2021
|Stake could have fallen to 3% or risen to 4.99%
|-
|UBS
|3.77%<ref>https://www.eqs-news.com/news/pvr/deutsche-wohnen-se-release-according-to-article-40-section-1-of-the-wphg-the-german-securities-trading-act-with-the-objective-of-europe-wide-distribution/1466369</ref>
|July 2021
|Stake could have fallen to 3% or risen to 4.99%
|-
|Goldman Sachs
|3.41%<ref>https://www.eqs-news.com/news/pvr/deutsche-wohnen-se-release-according-to-article-40-section-1-of-the-wphg-the-german-securities-trading-act-with-the-objective-of-europe-wide-distribution/1482500</ref>
|October 2021
|Stake could have fallen to 3% or risen to 4.99%
|-
|Davidson Kempner
|3.20%<ref>https://www.prnewswire.com/news-releases/statement-from-davidson-kempner-regarding-the-deutsche-wohnen-takeover-offer-by-vonovia-301383820.html</ref>
|September 2021
|Stake could have fallen to 3% or risen to 4.99%
|-
|Schroders plc
|3.01%<ref>https://www.eqs-news.com/news/pvr/deutsche-wohnen-se-release-according-to-article-40-section-1-of-the-wphg-the-german-securities-trading-act-with-the-objective-of-europe-wide-distribution/1276359</ref>
|February 2020
|Stake could have fallen to 3% or risen to 4.99%
|-
|Elliot Investment
|3.00%<ref>https://www.eqs-news.com/news/pvr/deutsche-wohnen-se-release-according-to-article-40-section-1-of-the-wphg-the-german-securities-trading-act-with-the-objective-of-europe-wide-distribution/1466371</ref>
|July 2021
|Stake could have risen to 4.99%
|-
|State Street Corporation
|2.96%<ref>https://www.eqs-news.com/news/pvr/deutsche-wohnen-se-release-according-to-article-40-section-1-of-the-wphg-the-german-securities-trading-act-with-the-objective-of-europe-wide-distribution/1496400</ref>
|December 2021
|We can't know if it still has this stake given that it's below the 3% threshold
|-
|JP Morgan
|1.01%<ref>https://www.eqs-news.com/news/pvr/deutsche-wohnen-se-release-according-to-article-40-section-1-of-the-wphg-the-german-securities-trading-act-with-the-objective-of-europe-wide-distribution/1485962</ref>
|November 2021
|We can't know if it still has this stake given that it's below the 3% threshold
|-
|BlackRock
|0.61%<ref>https://www.eqs-news.com/news/pvr/deutsche-wohnen-se-release-according-to-article-40-section-1-of-the-wphg-the-german-securities-trading-act-with-the-objective-of-europe-wide-distribution/1485023</ref>
|November 2021
|We can't know if it still has this stake given that it's below the 3% threshold
|-
|Massachusetts Financial Services
|2.69%<ref>https://www.eqs-news.com/news/pvr/deutsche-wohnen-se-release-according-to-article-40-section-1-of-the-wphg-the-german-securities-trading-act-with-the-objective-of-europe-wide-distribution/1460268</ref>
|July 2021
|We can't know if it still has this stake given that it's below the 3% threshold
|-
|Ministry of Finance on behalf of the State of Norway
|2.33%<ref>https://www.eqs-news.com/news/pvr/deutsche-wohnen-se-release-according-to-article-40-section-1-of-the-wphg-the-german-securities-trading-act-with-the-objective-of-europe-wide-distribution/1457156</ref>
|June 2021
|We can't know if it still has this stake given that it's below the 3% threshold
|}




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