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Investors in Austria's Conwert approve Vonovia offer for remaining shares
August 29, 2017 / 3:39 PM / in 3 months

Investors in Austria's Conwert approve Vonovia offer for remaining shares

VIENNA, Aug 29 (Reuters) - Shareholders of Austrian property group Conwert approved on Tuesday the purchase of remaining shares by German real estate giant Vonovia, which already had a 93 percent stake, at 17.08 euros ($20.54) per share.

Last year, Vonovia offered Conwert shareholders a choice of between 16.16 euros cash per share or 74 Vonovia shares for every 149 Conwert shares, which implied a price of 17.58 euros per Conwert share at the time.

Conwert’s shares were up 2.7 percent at 19.15 euros at 1524 GMT after hitting an all-time high of 20.06 on Monday. ($1 = 0.8315 euros) (Reporting By Shadia Nasralla; Editing by Edmund Blair)

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