| Abu Dhabi Investment Authority (ADIA) sold its 6.6 per cent stake in Deutsche Annington Immobilien SE, according to an emailed statement. ADIA, the world’s second-biggest sovereign wealth fund, sold 23.5 million shares there were offered at €30.80 (Dh121.01, $32.91) to market price each, according to a term sheet obtained by Bloomberg.
Deutsche Annington is Germany’s biggest residential landlord, with 350,000 apartments in cities including Berlin and Dortmund. Bank of America Corp was the sole bookrunner on the share sale, the terms showed. Sovereign wealth funds are among the biggest investors in Germany’s housing sector. They have sought to take advantage of rising home prices and rents............................................Full Article: Source
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