Round Hill in advanced talks to sell German property firm -sources
FRANKFURT Dec 12 (Reuters) - Private equity investor Round Hill Capital and other co-owners of Vitus Immobilien have entered advanced talks to sell the German property group to Deutsche Annington, two sources familiar with the transaction said on Thursday.
The deal, which would value Vitus at about 1.3 billion euros ($1.8 billion), is expected to be reached by Christmas, the sources told Reuters.
Round Hill is hoping to benefit from buoyant property valuations in Germany that helped underpin the stock market flotations of Deutsche Annington and peer real estate group LEG earlier this year.
Round Hill and co-investors bought a majority in Vitus in 2007 from Blackstone for 1.6 billion euros and have been looking for an exit for several years.
Blackstone retained a 25 percent stake in the group, which owns about 30,000 apartments.
Round Hill, Deutsche Annington and Blackstone declined comment.
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