Terra Firma Plans to List 25% of Deutsche Annington in IPO

Terra Firma Capital Partners Ltd., the private-equity firm run by Guy Hands, plans to list about 25 percent of Deutsche Annington Immobilien AG in an initial public offering that may value the company at as much as 4.6 billion euros ($6.1 billion.)

The IPO of Deutsche Annington, Germany’s largest residential landlord by number of properties, may raise about 1.2 billion euros, according to a person with knowledge of the deal who asked not to be identified because the information is private. That includes about 400 million euros from new shares sold by Deutsche Annington, which will use some of the proceeds to pay down debt, Chief Executive Officer Rolf Buch said today in a telephone interview.