Brief: Aareal Bank Shareholders Atlantic Bidco Can Tender Their Shares From Today

Aareal Bank AG

17/12/2021 11:03

Dec 17 (Reuters) - AAREAL BANK AG  ARLG.DE :
    * AAREAL BANK SHAREHOLDERS CAN TENDER THEIR SHARES FROM
TODAY -
OFFER DOCUMENT PUBLISHED
    * ACCEPTANCE PERIOD EXPECTED TO EXPIRE AT MIDNIGHT (CET) ON
19
JANUARY 2022
    * VOLUNTARY PUBLIC TAKEOVER OFFER FOR AAREAL BANK STARTS
TODAY -
OFFER DOCUMENT PUBLISHED FOLLOWING APPROVAL BY GERMAN FEDERAL
FINANCIAL SUPERVISORY AUTHORITY (BAFIN)
    * MANAGEMENT AND SUPERVISORY BOARD OF AAREAL BANK SUPPORT
OFFER
AND INTEND, SUBJECT TO FINAL REVIEW OF OFFER DOCUMENT, TO
RECOMMEND THAT AAREAL BANK SHAREHOLDERS ACCEPT OFFER
    * OFFER PRICE OF EUR 29.00 IN CASH REPRESENTS A PREMIUM OF
35%
BASED ON WEIGHTED AVERAGE PRICE OF AAREAL BANK SHARE OVER THREE
MONTHS ENDING 6 OCTOBER 2021, AND A PREMIUM OF 23% OVER LAST
UNAFFECTED CLOSING SHARE PRICE ON 6 OCTOBER 2021
    * OFFER WILL BE SUBJECT TO A MINIMUM ACCEPTANCE THRESHOLD OF
70%,
AND AS FURTHER SPECIFIED IN OFFER DOCUMENT, APPROVAL FROM BANK
REGULATORY, ANTITRUST AND FOREIGN INVESTMENT AUTHORITIES, AMONG
OTHER OFFER CONDITIONS
    * OBJECTIVE OF TRANSACTION IS TO SUPPORT AAREAL BANK'S
EXISTING
STRATEGIC AMBITIONS
    * AFTER A SUCCESSFUL TENDER OFFER, TRANSACTION IS EXPECTED
TO
CLOSE, SUBJECT TO REGULATORY PROCEEDINGS, IN SECOND HALF OF 2022
    * AS PART OF THIS PROGRAMME, BIDDER SUPPORTS PLANS TO
STRENGTHEN
ALL THREE OF AAREAL GROUP'S SEGMENTS BY INCREASING INVESTMENTS
ACROSS FINANCIAL SERVICES, REAL ESTATE, SOFTWARE AND PAYMENTS
SECTORS, PRIMARILY FINANCED BY RETAINING EARNINGS

Source text for Eikon:  ID:nEQ1N4bGRa 
Further company coverage:  ARLG.D 

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