Advent, Centerbridge to make takeover offer for Aareal Bank

Aareal Bank AG

23/11/2021 06:42

BERLIN, Nov 23 (Reuters) - Investors Advent and Centerbridge
on Tuesday announced plans to launch a voluntary takeover offer
for Germany's Aareal Bank  ARLG.DE  that would value the bank at
1.7 billion euros ($1.9 billion).
    The offer price 29 euros per Aareal share, a 35% premium
over the volume weighted average during the last three months,
Aareal Bank said in a statement.
    "The announced offer is in the best interests of our Company
and its stakeholders," Aareal Bank Chief Executive Officer
Jochen Kloesges said.
    In October, the bank, which specialises in real estate
lending, said it was in talks about a possible acquisition of a
majority stake with a group of investors.  urn:newsml:reuters.com:*:nL8N2R34DJ
($1 = 0.8900 euros)

 (Reporting by Riham Alkousaa; Editing by Christoph Steitz)
 ((Riham.Alkousaa@thomsonreuters.com;))