The German property company Vonovia has revealed that it will be paying out around €900m for Sweden’s Victoria Park AB. The company says the deal is the result of a new strategy to expand its business outside of Germany. At the same time Vonovia upgraded its 2018 outlook, reporting an after-tax profit for the first quarter of €129.2m. That was virtually the same as the €130.7m it produced in 2017. Earnings (before interest, taxes and deprectiation) fell slightly to €299.4m though its rental income improved to €418.3m.
