Aareal's tech division Aareon to be sold to TPG and CDPQ

Aareal Bank AG

24/06/2024 08:31

FRANKFURT, June 24 (Reuters) - Germany's Aareal Bank and
Advent International are selling the tech unit Aareon to the
private equity firm TPG and investor CDPQ, the sellers announced
on Monday.
    The division has an enterprise value of 3.9 billion euros 
($4.18 billion) and Aareal's equity stake is valued at around
2.1 billion, they said.


($1 = 0.9336 euros)

 (Reporting by Tom Sims
Editing by Miranda Murray)
 ((Tom.Sims@thomsonreuters.com; +49 30 220 133 645;))