DGAP-News: BUWOG AG

Vienna, 12 March 2018
BUWOG shareholders accept voluntary public takeover offer by Vonovia SE
 

- Preliminary acceptance rate of 73.7 percent exceeds the minimum acceptance threshold of 50 percent plus one share

- BUWOG shareholders can still tender their shares within the additional acceptance period

- Daniel Riedl, Chief Executive Officer of BUWOG AG, emphasizes the importance of the business combination
 

Vonovia SE today published the preliminary result of the voluntary public takeover offer for the acquisition of all outstanding shares and convertible bonds of BUWOG AG. By 5:00 p.m. on March 12, 2018, the takeover offer had been accepted by a majority of the shareholders for 73.7 percent of all shares issued by BUWOG. Thus, the minimum acceptance threshold of 50 percent plus one share of all shares issued by BUWOG has been surpassed.

Daniel Riedl, Chief Executive Officer of BUWOG AG: "We regard the clear vote by our shareholders as a mandate for BUWOG and Vonovia to continue their successful growth path together in the future. Together with Vonovia, we will continue to strategically develop BUWOG's integrated business model and high-quality property portfolio."

Vonovia is expected to publish the final result of the first acceptance period on March 15, 2018 on its website (en.vonovia-tob.de) and on March 16, 2018 in the Wiener Zeitung. Pursuant to Section 19 (3) No. 3 of the Austrian Takeover Act, the acceptance period for BUWOG shareholders who have not yet accepted Vonovia's offer will be extended by further three months ("additional acceptance period"). The additional acceptance period is expected to commence on March 16, 2018, in which case it will run until 5:00 p.m. on June 18, 2018. Within that period of time, BUWOG shareholders still have the opportunity to tender their shares to Vonovia at the price of EUR 29.05 per share.

Holders of BUWOG convertible bonds still have the opportunity to tender their convertible bonds to Vonovia during the additional acceptance period. In the additional acceptance period, a reduced price per convertible bond of EUR 93,049.33 per nominal amount of EUR 100,000 will be offered. Holders of BUWOG convertible bonds may convert their BUWOG convertible bonds at an adjusted conversion price during the change of control window (expected to run from March 16, 2018 up to and including April 27, 2018). Settlement shares may be tendered to Vonovia within the additional acceptance period at the price of EUR 29.05 per share.
About the BUWOG Group

The BUWOG Group is the leading German-Austrian full-service provider in the residential property business and now looks back on 66 years of expertise. Its property portfolio encompasses around 49,000 units and is located in Germany and Austria. In addition to Asset Management, the entire value chain of the residential sector is covered by Property Sales and Property Development. The shares of BUWOG AG have been listed on the stock exchanges in Frankfurt am Main, Vienna (ATX) and Warsaw since the end of April 2014.

For requests, please contact:

INVESTOR RELATIONS

Holger Lueth
BUWOG AG
Email: investor@buwog.com
T +43-1-878 28 1203

Jan-Hauke Jendrny
BUWOG AG
Email: investor@buwog.com
T: +49-30-338539 1873

MEDIA AUSTRIA

Thomas Brey
M&B PR, Marketing, Publications
Email: brey@mb-pr.at
T: +43-1-233 01 23-15

MEDIA GERMANY

Michael Divé
BUWOG AG
Email: michael.dive@buwog.com
T: +49-1590-4621 993