Abu Dhabi Investment pockets €750m for Deutsche Annington

Josh Martin
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THE ABU Dhabi Investment Authority last night sold off its remaining 14 per cent stake, or 23.5m shares, in Deutsche Annington for close to €750m.

Bank of America Merrill Lynch (BAML) was the sole bookrunner for the Abu Dhabi Investment Authority on the deal.

The price range for Deutsche Annington of between €30.80 and €31.79, matches its range on the Frankfurt sharemarket yesterday.

Deutsche Annington owns and rents properties and sells units to tenants and others. It is the largest private home owner in Germany.

Guy Hands’ Guernsey private equity fund Terra Firma once held 82.5 per cent of Deutsche Annington – which owns UK property leased to the Ministry of Defence – before successfully floating the firm in July 2013.

In May 2014 Terra Firma gave its investors direct holdings in Deutsche Annington and sold down its stake considerably.