Deutsche Wohnen buys 7,800 flats for cash, shares
FRANKFURT, April 26
FRANKFURT, April 26 (Reuters) - German real estate company Deutsche Wohnen AG agreed to buy two property portfolios comprising a total of 7,800 flats and will raise capital to pay part of the price.
It is buying 6,900 of the flats for 260 million euros ($338 million) in cash and will issue 8.15 million new shares to the sellers of the units, several companies linked with Blackstone Group.
For the remaining 900 flats, it is paying 51 million euros in cash.