October 12, 2018 / 4:36 AM / 7 days ago

BRIEF-Vonovia Buys Stake in Residential Portfolio From SNCF As Part Of Consortium

Oct 12 (Reuters) - Vonovia SE:

* AS PART OF A CONSORTIUM, VONOVIA WILL ACQUIRE A 10% STAKE IN A 4,000 UNIT RESIDENTIAL PORTFOLIO FROM SNCF GROUP

* STRUCTURE OF TRANSACTION WILL GIVE VONOVIA AN INDIRECT 10% STAKE IN FONCIÈRE VESTA FOR AN INVESTMENT OF A HIGHER DOUBLE-DIGIT MILLION EURO AMOUNT

* REITERATES ITS BELIEF THAT FRANCE IS A MEANINGFUL LONG-TERM OPPORTUNITY TO THE EXTENT THAT LEGISLATION CHANGES

* WITHOUT SUCH LEGISLATIVE CHANGE, HOWEVER, VONOVIA DOES NOT EXPECT TO MAKE ANY MEANINGFUL CAPITAL ALLOCATIONS Source text: here Further company coverage:

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