Vonovia to Buy Austrian Developer Conwert for $1.9 Billion

Updated on
  • Conwert shares jump on deal, while Vonovia stock drops
  • Deal to generate 7 million euros of annual cost savings

Vonovia SE agreed to buy Austrian developer Conwert Immobilien Invest SE for about 1.7 billion euros ($1.9 billion), a fresh attempt to grow with an acquisition after a bid for its largest German competitor failed.

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