LEG Immobilien AG and Deutsche Wohnen AG have signed an agreement on the business combination of the companies. The combination shall be structured as voluntary offer of Deutsche Wohnen AG to the shareholders of LEG Immobilien AG to tender their LEG shares in exchange for Deutsche Wohnen shares. Deutsche Wohnen intends to offer 3.30 newly-issued Deutsche Wohnen shares in exchange for one LEG share. The newly-issued shares of Deutsche Wohnen AG shall carry dividend rights for the period starting on January 1, 2015. The exchange ratio values the equity capital of LEG Immobilien AG at €4,624m. The business combination shall be closed until the end of December 2015.

Hengeler Mueller is advising LEG on the transaction. The Hengeler Mueller team includes partners Maximilian Schiessl, Bernd Wirbel (both M&A, Düsseldorf), Thomas Müller (Real Estate), Wolfgang GroB, Alexander Rang (both Capital Markets), Stefanie Beinert, Matthias Scheifele (both Tax), counsel Mathias Link (Tax) (all Frankfurt) as well as associates Dominik Hess, Ute König (both Corporate/M&A, Düsseldorf), Maximilian Clostermeyer, Christoph Trautrims, Heiko Gotsche, Sophie-Charlotte Bechtold (all Capital Markets), Alexander Kredig (Tax) and Peter Wehner (Labour) (all Frankfurt).