Vonovia : successful with Victoria Park offer

The Offer is not being made, and this press release may not be distributed, directly or indirectly, in or into, nor will any tender of shares be accepted from or on behalf of holders in, Australia, Hong Kong, Japan, Canada, New Zealand or South Africa, or any other jurisdiction in which the making of the Offer, the distribution of this press release or the acceptance of any tender of shares would contravene applicable laws or regulations or require further offer documents, filings or other measures in addition to those required under Swedish law.


Vonovia successful with Victoria Park offer

Bochum, 18 June 2018 - The public takeover offer from Vonovia SE ("Vonovia") to the shareholders of Swedish residential property company Victoria Park AB ("Victoria Park") has been successful. As communicated in a formal announcement earlier today, Vonovia exceeded the minimum acceptance threshold set as condition for closing of the take-over bid for Victoria Park of more than 50% of the voting rights (on a fully diluted basis and taking into account existing call options) within the initial acceptance period. All conditions for completion of the offer have thus been satisfied.

Based on the preliminary calculations, shares representing at least 46% of the voting rights in Victoria Park have been tendered during the initial acceptance period. In addition, Vonovia has obtained call options for 12.35% (12.32% fully diluted) of the voting rights. Hence, upon exercise of the call options Vonovia will hold at least 58% of the voting rights in Victoria Park. The final results will be determined in the morning of 21 June 2018, following final calculations of the shares tendered during the initial acceptance period.

"We have made an amicable offer to acquire Victoria Park because we want to invest in a company that puts tenants at the heart of its strategy - just like we do," said Rolf Buch, CEO of Vonovia. "Our business model is only sustainable if we can offer our customers high quality housing stock and improved living conditions. Together, we will be able to leverage synergies that benefit both tenants and shareholders".

"We are very happy that a majority of our shareholders has accepted Vonovia's attractive offer," said Per Ekelund, CEO of Victoria Park. "With Vonovia's expertise in improving housing conditions at much better scale, we are looking forward to cooperating closely with our new majority owner - a perfect partnership with a long-term, sustainable strategy."

Vonovia also announced that the acceptance period has been extended until 3 July 2018 to give shareholders in Victoria Park who have not yet tendered their shares the opportunity to accept the offer within this additional acceptance period.

The settlement for shares tendered within the initial acceptance period is expected to take place on or around 28 June 2018.

This is not the formal announcement regarding the completion of Vonovia's offer for Victoria Park. The formal announcement, which has been drawn up and made public in accordance with applicable laws and regulations is available at: http://en.vonovia-k.de/

Information about the offer

Information about the offer is available at: http://en.vonovia-k.de/

For further information, please contact:

Rene Hoffmann                                          Klaus Markus
+49 (0)234 314-1629                                  +49 (0)234 314-1149
rene.hoffmann@vonovia.de                        klaus.markus@vonovia.de

About Vonovia

Vonovia SE is Germany's leading nationwide residential real estate company. Vonovia currently owns and manages around 394,000 residential units predominantly in Germany's attractive cities and regions. Its portfolio is worth approximately EUR 38.5 billion. As a modern service company, Vonovia focuses on customer orientation and tenant satisfaction. Offering tenants affordable, attractive and livable homes is a prerequisite for the company's successful development. Accordingly, Vonovia makes long-term investments in the maintenance, modernization and senior-friendly conversion of its properties. The company will also be creating more and more new apartments by realizing infill developments and adding to existing buildings.

The company, which is based in Bochum, has been listed on the stock exchange since 2013 and on the DAX 30 since September 2015. Vonovia SE is also listed on the international indices STOXX Europe 600, MSCI Germany, GPR 250 and EPRA/NAREIT Europe. Vonovia has a workforce of approximately 9.500 employees.

Additional Information:
Approval: Regulated Market / Prime Standard, Frankfurt Stock Exchange
ISIN: DE000A1ML7J1
WKN: A1ML7J
Common code: 094567408
Registered headquarters of Vonovia SE: Universitätsstraße 133, 44803 Bochum, Germany
(Local Court (Amtsgericht) Bochum, HRB 16879)

About Victoria Park

Victoria Park is a Swedish property company, which, through long-term management and social responsibility for more attractive living, creates value in an expanding property portfolio in growth districts in Sweden. As of 31 March 2018, Victoria Park's property portfolio amounts to 1,083,000 square metres, comprising 13,725 flats, with a market value of SEK 16.2 billion. The shares in Victoria Park are listed for trading on Nasdaq Stockholm Mid Cap. Victoria Park is a limited liability company incorporated under the laws of Sweden, with corporate registration number 556695-0738.

Important Information

The Offer referred to in this press release and as further described in the Offer document pursuant to Swedish law, is not being made to persons whose participation in the Offer requires that any additional offer document is prepared or registration effected or that any other measures are taken in addition to those required under Swedish law.

This press release is not being published in or distributed to or into and must not be mailed or otherwise distributed or sent in or into any country in which the distribution or offering would require any such additional measures to be taken or would be in conflict with any law or regulation in such country. Persons who receive this press release (including, without limitation, nominees, trustees and custodians) and are subject to the law of any such jurisdiction will need to inform themselves about, and observe, any applicable restrictions or requirements. Any failure to do so may constitute a violation of the securities laws of any such jurisdiction. Deutsche Annington Acquisition Holding GmbH, to the fullest extent permitted by applicable law, disclaims any responsibility or liability for the violations of any such restrictions by any person. Any purported acceptance of the Offer resulting directly or indirectly from a violation of these restrictions may be disregarded.
The Offer is not being made and will not be made, directly or indirectly, in or into, Australia, Canada, Hong Kong, Japan, New Zealand or South Africa or by use of mail or any other means or instrumentality of interstate or foreign commerce, or of any facilities of a national securities exchange, of Australia, Canada, Hong Kong, Japan, New Zealand or South Africa. This includes, but is not limited to facsimile transmission, electronic mail, telex, telephone, the internet and other forms of electronic transmission. The Offer cannot be accepted and shares may not be tendered in the Offer by any such use, means, instrumentality or facility of, or from within Australia, Canada, Hong Kong, Japan, New Zealand or South Africa or by persons located or resident in Australia, Canada, Hong Kong, Japan, New Zealand or South Africa. Accordingly, this press release and any documentation related to the Offer are not being and should not be mailed or otherwise transmitted, distributed, forwarded or sent in or into Australia, Canada, Hong Kong, Japan, New Zealand or South Africa or to any Australian, Canadian, Hong Kong, Japanese, New Zealand or South African persons or any persons located or resident or with a registered address in Australia, Canada, Hong Kong, Japan, New Zealand or South Africa. Banks, brokers, dealers and other nominees holding shares for persons in Australia, Canada, Hong Kong, Japan, New Zealand or South Africa must not forward this press release or any other document received in connection with the Offer to such persons.

In connection with the Offer, an offer document has been filed with and published by the Swedish Financial Supervisory Authority. Shareholders of Victoria Park AB should read the offer document carefully, since it contains important information about the transaction. Shareholders of Victoria Park AB may obtain free copies of the offer document, any amendments or supplements thereto and other documents containing important information about the transaction, from Vonovia's website (http://en.vonovia-k.de).

To the extent this press release contains forward-looking statements, such statements do not represent facts and are characterized by the words "will", "expect", "believe", "estimate", "intend", "aim", "assume" or similar expressions. Such statements express the intentions, opinions or current expectations and assumptions of Vonovia, for example with regard to the potential consequences of the Offer for Victoria Park AB, for those shareholders of Victoria Park AB who choose not to accept the Offer or for future financial results of Victoria Park AB. Such forward-looking statements are based on current plans, estimates and forecasts which Vonovia has made to the best of its knowledge, but which do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and usually cannot be influenced by Vonovia. It should be kept in mind that the actual events or consequences may differ materially from those contained in or expressed by such forward-looking statements.