Support for takeover of Deutsche Wohnen AG by Vonovia SE

27 January 2016

Norges Bank Investment Management has tendered all shares held in Deutsche Wohnen AG to the takeover offer by Vonovia SE (formerly Deutsche Annington Immobilien SE).

Norges Bank Investment Management rationale

Norges Bank Investment Management seeks to provide clarity and avoid any potential market speculation about our tender decision.

Norges Bank Investment Management supports the strategic rationale of the takeover offer and considers that the takeover offer is in the best long-term interest of Deutsche Wohnen AG shareholders.


Important legal notice

Norges Bank Investment Management’s approach to responsible investing includes disclosing our voting decisions, in some cases in advance of the relevant meeting. This is only intended to provide information and is not solicitation or encouragement as to how others should vote. This disclosure is not investment research, advice or recommendation. Norges Bank Investment Management’s voting intention is an internal decision and has not been agreed with other shareholders. This disclosure reflects Norges Bank Investment Management’s intention as at the date of publication but such intention is subject to change at our discretion. Norges Bank Investment Management is not subject to any prohibition on dealing after the publication of this disclosure. Norges Bank Investment Management’s holdings available for voting from time to time may differ from those set out in lists of holdings as of year-end.