Deutsche Annington Immobilien AG, Germany’s largest residential landlord, has chosen banks to market its initial public offering with the aim of listing shares by the end of next month, three people with knowledge of the matter said.
The plunge in the cost of wind and solar power that bankrupted more than two dozen manufacturers is forecast to spur a tripling of investment in renewables by 2030 and to reduce the grip fossil fuels have on world energy supply.
Guy Hands, founder of Terra Firma Capital Partners Ltd., said he personally funded 20 million pounds ($30 million) of bonuses at his private equity firm last year, and will do the same again this year.
Cerberus Capital Management LP, the private-equity firm led by Stephen Feinberg, is moving ahead with an initial public offering of its German retail-property assets after hiring three banks to manage the sale, people with knowledge of the plan said.
Guy Hands , the founder of Terra Firma Capital Partners Ltd., testified in his $8.3 billion fraud suit against Citigroup Inc. that his firm wouldn’t have bid on EMI Group Ltd. if he had known there were no other bidders.
Terra Firma Capital Partners Ltd. may sell as much as 40 percent of Deutsche Annington Immobilien AG in an initial public offering slated for 2013 as part of a plan to end its investment in the property company.
Blackstone Group LP and Goldman Sachs Group Inc. are among private-equity investors selling the most German housing assets since they plowed into the market in 2005, a sign that price gains may have peaked.
Guy Hands , whose Terra Firma Capital Partners Ltd. paid $6.7 billion for EMI Group Ltd. at the height of the buyout boom in 2007, began trial of his claim that he was tricked into overpaying by a Citigroup Inc. banker.