FRANKFURT May 19 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.
TFDA fund investors will be allocated direct shareholdings
in Deutsche Annington on Tuesday May 20.
(Reporting by Jonathan Gould; Editing by Mark Potter)