Key Events During the Reporting Period
With effect of February 1, 2019, Vonovia SE successfully sold its roughly 16.8 million shares in Deutsche Wohnen SE (“Deutsche Wohnen”) to institutional investors by means of an accelerated book building procedure; the shares were sold for a price of € 41.50 per share. This corresponds to a customary market discount of 4.8% on the closing price of € 43.59 as of January 31, 2019. This results in total proceeds of € 698.1 million. The acquisition costs at the time amounted to € 405.5 million, resulting in a total accounting profit of € 292.6 million from this disposal under the commercial law provisions. In the IFRS consolidated financial statements, the total profit was reclassified from other reserves to retained earnings, not affecting net income, pursuant to the designation under IFRS 9 after the transaction was completed.