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Deutsche Wohnen:Minority shareholder buyout (DPLTA): Difference between revisions
Deutsche Wohnen:Minority shareholder buyout (DPLTA) (view source)
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, 20 September 2024→Which valuation method was used in the 2021 takeover of Deutsche Wohnen Shares by Vonovia
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== Which valuation method was used in the 2021 takeover of Deutsche Wohnen Shares by Vonovia == | == Which valuation method was used in the 2021 takeover of Deutsche Wohnen Shares by Vonovia == | ||
* The 2021 takeover was based on EPRA Net Tangible Asset Value (NTA) valuation method<ref>https://ir.deutsche-wohnen.com/download/companies/dewohnen/takeover_information/20210831_Stellungnahme_EN.pdf</ref>. | |||
* A joint statement by Vonovia and Deutsche Wohnen pointed out that this valuation method is widely used in the REIT sector. | |||
* The method values properties based on the market value which is calculated using the Discounted Cash Flow Method (DCF). | |||
* The Management Board and Supervisory Board concluded that the offer price of EUR 53.0 was above the EPRA NTA of EUR 52.5 in Q1 2021. | |||
* In determination of the adequacy of the offer price, the two boards also compared the expected 2021 FFO of Deutsche Wohnen and that of its peers. | |||
== Ownership Structure == | == Ownership Structure == | ||