2023-05-22 21:50:55
DThe financial investors Advent and Centerbridge as well as the Canadian pension fund CPPIB can take over Aareal Bank. With the approval by the European Central Bank, all regulatory approvals are now in place, the takeover company Atlantic BidCo announced on Monday evening in Frankfurt.
The takeover started a year ago. At that time, the financial investors had already secured a majority stake in the real estate financier. Since then, the takeover has been examined by various bodies.
With the approval, all offer conditions are also fulfilled. The takeover offer is to be settled by June 7, 2023. Shareholders who have accepted the offer will receive EUR 33 per share tendered. After completion of the takeover offer, the consortium around Advent and Centerbridge will hold around 90 percent of the share capital and voting rights of Aareal Bank.
Aareal Bank offers financing for hotels, offices and shopping centers, for example, as well as software, digital solutions and payment services. The financial investors had pledged to support the course and boost growth.
#Green #light #Aareal #Bank #takeover