Aareal Bank jumps after receiving takeover offer from Advent and Centerbridge

Aareal Bank AG

23/11/2021 07:30

** Shares in Aareal Bank  ARLG.DE  jump 2.1% in early
Frankfurt trade after investors Advent and Centerbridge
announced plans to launch a voluntary takeover offer for the
company urn:newsml:reuters.com:*:nL8N2SE0XN
    ** The offer would value the bank at EUR 1.7 bln ($1.9 bln)
    ** The offer price of EUR 29 per Aareal share, is 35%
premium over the volume weighted average during the last three
months
    ** Private-equity firm Advent and private-investment
management company Centerbridge will pursue the offer through
its investment vehicle Atlantic BidCo GmbH
    ** In October the shares surged over 23% as the German bank
confirmed it was in talks with investors on majority stake
 urn:newsml:reuters.com:*:nL8N2R34DJ
    ** The stock is at the top of the German small-cap index
 .SDAXI  
    
($1 = 0.8900 euros)

 (Reporting by Elizaveta Gladun in Gdansk)
 ((elizaveta.gladun@thomsonreuters.com))