Terra Firma fund investors to get Deutsche Annington shares
FRANKFURT May 19 (Reuters) - Private equity company Terra Firma plans to give investors in its Terra Firma Deutsche Annington Fund (TFDA) a direct shareholding in German real estate group Deutsche Annington, Terra Firma said on Monday.
"This will result in TFDA's investors having direct ownership of Deutsche Annington Ordinary shares, pro rata to their interests in TFDA," Terra Firma said in a statement.
The fund was set up in 2006 to hold the majority interest in Deutsche Annington, which was managed by Terra Firma.
The allocation of Deutsche Annington shares will bring the real estate company's free float to around 90 percent and allow fund investors to take advantage of stock market liquidity to realise returns, once a 90 day lock-up period that was backed by fund investors has expired, Terra Firma said.