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Terra Firma to transfer Deutsche Annington shares to LPs after partial exit

20 May 2014

annington-homes_sqUK private equity firm Terra Firma is planning to transfer its shares in German property group Deutsche Annington to its fund LPs after selling a 12.5 per cent stake with a co-investor.

Terra Firma and Citigroup Property Investors sold 30 million shares for €19.50 each according to Reuters, which cited a source familiar with the transaction.

It said the buyout house is planning to transfer its remaining shares held through the Terra Firma Deutsche Annington Fund to its LP owners.

TFDA currently holds a 67.3 per cent stake in the business.

Terra Firma said the transfer of shares would bring Deutsche Annington’s free float to about 90 per cent and allow investors to benefit from better stock market liquidity to realise returns.

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