Aareal Bank Recommends Shareholders Accept Takeover Offer Made By Atlantic BidCo

(RTTNews) - Aareal Bank AG (AAALF.PK) stated that its Management Board and Supervisory Board have examined the offer document made by Atlantic BidCo GmbH, and recommended that shareholders accept the offer. However, the Management Board and Supervisory Board noted that all shareholders of Aareal Bank AG should consider the overall circumstances, their personal situation and their view of potential future developments, and each decide independently.

The Management Board and Supervisory Board also deem the cash consideration of 29 euros per Aareal Bank share to be fair. Based on the offer price, Aareal Bank Group is valued at 1.736 billion euros. The acceptance period for the offer has commenced with the publication of the offer document on 17 December 2021, and is scheduled to expire on 19 January 2022.

Atlantic BidCo GmbH is a bidder company held indirectly by financial investors Advent International Corporation and Centerbridge Partners, L.P. and other co-investors - including the Canada Pension Plan Investment Board which holds a significant minority stake.