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Reuters – Deutsche Annington Aims for 2013 IPO

Germany’s largest real estate group Deutsche Annington is eyeing a listing in the last three months of 2013, Chief Financial Officer Stefan Kirsten said. Deutsche Annington, owned by private equity group Terra Firma, owns more than 210,000 flats mainly in Western Germany, Reuters wrote.

(Reuters) – Germany’s largest real estate group Deutsche Annington is eyeing a listing in the last three months of 2013, Chief Financial Officer Stefan Kirsten said.

“The fourth quarter (of 2013) in my eyes is the earliest possible window (for an initial public offering)”, Kirsten told Reuters on Friday.

Deutsche Annington, owned by private equity group Terra Firma, is not planning to acquire large real estate portfolios – such as Gagfah’s Woba or BayernLB’s GBW – ahead of a share sale, Kirsten added.

Deutsche Annington, which owns more than 210,000 flats mainly in Western Germany, will post record-breaking operating earnings this year, the manager said.

The group is currently negotiating to refinance billions in euros of loans. “I hope that we will finalise that until year-end (of 2012)”, Kirsten said. (Reporting by Kathrin Jones; writing by Arno Schuetze)