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Deutsche Wohnen:Minority shareholder buyout (DPLTA): Difference between revisions
Deutsche Wohnen:Minority shareholder buyout (DPLTA) (view source)
Revision as of 12:21, 26 September 2024
, 26 September 2024→Upsides
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'''''LTV is risk factor for Vonovia and merger with Dt. Wohnen will reduce it''''' | '''''LTV is risk factor for Vonovia and merger with Dt. Wohnen will reduce it''''' | ||
I still think Vonovias main reason to complete the takeover is bring down their LTV ratio, which is currently, as of H2 2024, standing at a very high [https://www.vonovia.com/en/investors/latest-publications#analystpresentation 47.3%] (presentation p. 10) while Dt. Wohnen has a LTV of 30% (p.2) As a reminder Vonovias bond covenant is at 60%. At this threshold, creditors could | I still think Vonovias main reason to complete the takeover is bring down their LTV ratio, which is currently, as of H2 2024, standing at a very high [https://www.vonovia.com/en/investors/latest-publications#analystpresentation 47.3%] (presentation p. 10) while Dt. Wohnen has a LTV of 30% (p.2) As a reminder Vonovias bond covenant is at 60%. At this threshold, creditors could [https://forum.investmentwiki.org/t/vonovia-discussions/86 seize its assets] and force sell them. | ||
'''''Reduced operational costs and allows control over Deutsche Wohnen's cash and properties''''' | '''''Reduced operational costs and allows control over Deutsche Wohnen's cash and properties''''' | ||