Vonovia SE (VNAn.DE)
FRANKFURT Vonovia , Germany's biggest residential property company, has agreed to buy Austrian counterpart Buwog in a cash deal valuing the latter at 5.2 billion euros ($6.12 billion), the two companies said on Monday.
MILAN European shares rose on Monday, buoyed by a flurry of year-end M&A and expectations that a U.S. bill lowering corporate taxes could soon pass.
* Vonovia to double construction to 4,000 flats annually (Adds CEO quotes, background)
Dec 18 The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Monday:
* EXPECTS TO BUILD 4,000 APARTMENTS ANNUALLY AFTER BUWOG DEAL
* PLANS TO BUILD SIGNIFICANTLY MORE THAN 2,000 APARTMENTS ANNUALLY AFTER BUWOG ACQUISITION Further company coverage:
FRANKFURT, Dec 18 Real estate group Buwog has agreed to be taken over by Germany's Vonovia in a cash deal valuing the Austrian firm at 5.2 billion euros ($6.12 billion), the two companies said on Monday.
* DGAP-ADHOC: BUWOG AG: TAKEOVER OFFER FOR BUWOG AG ANNOUNCED BY VONOVIA SE
* Deutsche Bank, Credit Suisse advising - sources (Adds peers, deal value)
* 9M profit 1.21 billion eur versus year-earlier 278.3 million