Alstria's Deutsche Office Bid Succeeds as Shareholders Acceptby
Alstria Office REIT AG’s won shareholder approval to buy competitor Deutsche Office AG in a deal that values the company at about 800 million euros ($901 million).
Investors holding more than 69.6 percent of the shares have accepted the offer, exceeding the minimum requirement, Alstria said in a statement on Friday. Oaktree Capital Group LLC, which owns about 60 percent of the stock, had already accepted the bid when it was announced in June.
The deal will consolidate Alstria’s position as Germany’s biggest office company by market value. It will add Deutsche Office properties in Frankfurt to Alstria’s holdings in and around Hamburg, Dusseldorf and Stuttgart.