The facade of the headquarters of the listed housing company Deutsche Wohnen SE in Berlin. The hedge fund Elliott calls for a special audit at the Vonovia subsidiary.
(Photo: dpa)
Frankfurt The pressure on the real estate company Deutsche Wohnen is increasing: the influential voting rights advisor Institutional Shareholder Services (ISS) sides with the financial investor Elliott and supports his application for a special audit. This emerges from the voting recommendations from ISS for the general meeting planned for mid-June, which is available to the Handelsblatt. In it, ISS called on shareholders to vote for the appointment of a special auditor for a multi-billion dollar loan from Deutsche Wohnen to Vonovia.
The Vonovia subsidiary Deutsche Wohnen is threatened with a voting defeat at the upcoming general meeting. Anglo-Saxon investors in particular often follow the advice of proxy advisors at general meetings. Since ISS is considered the most influential advisor, the chances of a special audit have now increased significantly.
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