Deutsche Wohnen Says Public Exchange Offer For GSW Successful

(RTTNews) - Deutsche Wohnen AG (DWHHF.PK) said that, with the end of the regular acceptance period at midnight CET on October 30, 2013, over 75 percent of GSW Immobilien AG shareholders have accepted the voluntary public exchange offer submitted by Deutsche Wohnen. The earlier specified minimum acceptance ratio of 75 percent of all outstanding GSW shares has thus been reached. Therefore, the two companies can now continue with their planned combination.

Deutsche Wohnen AG's Chief Executive stated: 'First of all, we are pleased with the great result. We have been given a clear mandate by both shareholder groups. We will now focus our full attention and energy on the combination of the two companies.'

The final result including the definitive tender ratio is likely to be available on November 4. GSW shareholders who have not accepted the offer within the acceptance period may still accept the offer within the additional acceptance period that is expected to begin on November 5th and end at midnight (CET) on November 18, 2013.

The company said the combination of Deutsche Wohnen and GSW would create a German residential property company with a portfolio of about 150,000 residential units with a total value of some 8.5 billion euros.