Terra Firma buys Annington Homes from Nomura for 3.2 bln stg

LONDON Mon Nov 19, 2012 11:17am EST

LONDON Nov 19 (Reuters) - Private equity firm Terra Firma said on Monday it had agreed to buy Annington Homes from Nomura International in a deal worth 3.2 billion pounds ($5.1 billion).

It said the acquisition of Annington, which owns around 40,000 properties which are mainly let to the Ministry of Defence, should be complete by the end of the year.

The deal will have an enterprise value of 3.2 billion pounds, made up of 1 billion pounds of new equity and debt financing, and assumed existing debt of 2.2 billion pounds.