Hengeler Mueller advises LEG on acquisition of residential portfolio from Vonovia
04. November 2015
LEG Immobilien AG has signed an agreement in principle about the acquisition of a portfolio of around 13,800 residential units in North Rhine-Westphalia from Vonovia SE. The purchase price for the portfolio amounts to approximately EUR 600 m. The concentrated portfolio strengthens the presence and the leading market position of LEG in its core markets in North Rhine-Westphalia. For the future, LEG is considering the implementation of an equity measure for financing the equity portion. The closing of the transaction is subject to approval by the Federal Antitrust Office and is expected in spring 2016.
Hengeler Mueller advised LEG on the transaction. The Hengeler Mueller team includes partners Thomas Müller (M&A/Real Estate), Alexander Rang (Capital Markets) (both Frankfurt) and Markus Röhrig (Antitrust, Brussels) as well as associates Daniel A. Spitze (M&A/Real Estate), Carl-Philipp Eberlein (Capital Markets) (both Frankfurt) and Malcolm Tiffin-Richards (Antitrust, Brussels).