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Vonovia: Difference between revisions
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April 26, 2023: Vonovia to sell its Suedewo residential portfolio to U.S. investor Apollo for 1 billion euros ($1.10 billion). Suedewo portfolio is currently valued at 3.3 billion euros, a 5% discount to its fair value in December 31. Vonovia targets to generate 2 billion euros free cash flow from its portfolio sales. In summer, it earmarked properties worth 13 billion euros for sale<ref>https://www.reuters.com/business/vonovia-sell-1-bln-eur-residential-portfolio-apollo-2023-04-26/</ref>. | April 26, 2023: Vonovia to sell its Suedewo residential portfolio to U.S. investor Apollo for 1 billion euros ($1.10 billion). Suedewo portfolio is currently valued at 3.3 billion euros, a 5% discount to its fair value in December 31. Vonovia targets to generate 2 billion euros free cash flow from its portfolio sales. In summer, it earmarked properties worth 13 billion euros for sale<ref>https://www.reuters.com/business/vonovia-sell-1-bln-eur-residential-portfolio-apollo-2023-04-26/</ref>. | ||
== Regulatory Environment == | |||
June 26, 2023: Vonovia believes that the Commission's conclusion that the state of Berlin could enact expropriation legislation is not feasible due to; | |||
* Substantial constitutional hurdles. | |||
* Economics surrounding compensation. | |||
* Investments relating to new constructions(€100bn p.a.) cannot be met by the government alone. | |||
* Energy efficient modernization investment(€120bn p.a.) will also not be shouldered by the government alone<ref>https://www.marketscreener.com/quote/stock/VONOVIA-SE-13519421/news/Vonovia-Stellungnahme-zur-Enteignungsdiskussion-in-Berlin-english-version-44185573/</ref>. | |||
== References == | == References == | ||