Deutsche Wohnen CFO Unaware of Oaktree Takeover Plans

FRANKFURT (Reuters) – Deutsche Wohnen (DWNG.DE) is unaware of any takeover plans by private equity fund Oaktree, which already owns 24.2 percent in the company, its Chief Financial Officer Helmut Ullrich told Reuters on Tuesday.

Shares in Deutsche Wohnen had risen up to 4.7 percent higher to as much as 7.83 euros as traders cited market talk that Oaktree planned to either increase its stock or possibly takeover the German real estate company.

“The management is unaware of such plans,” Ullrich said. “There is nothing to it.”

Deutsche Wohnen shares pared gains after the news and were up 4.3 percent at 7.80 euros by 1020 GMT.

Oaktree, which was not immediately available for comment, owns around 24 percent in Deutsche Wohnen, but had agreed to dilute its stake via a capital increase of around 55 million euros ($81 million).

The subscription period for the capital increase ends on Wednesday and the new shares are to be included in the current listing presumably on Oct. 9.

(Reporting by Alexander Huebner and Tyler Sitte)