Frankfurt The financial investors Centerbridge and Advent want to take over Aareal Bank. They promised 29 euros per Aareal share in cash, as the Wiesbaden real estate financier announced on Tuesday. Aareal Bank would then be valued at around 1.74 billion euros on the stock exchange.
The offer includes a premium of around 35 percent on the average price of Aareal shares over the past three months prior to the announcement of the takeover talks. The purchase offer also provides for a minimum acceptance threshold of 70 percent. A corresponding investor agreement has been concluded.
The Management Board and the Supervisory Board of Aareal Bank support the takeover offer. The offer documents are expected to be published in mid-December.
The takeover plans are well received by Aareal Bank investors. The shares of the Wiesbaden real estate financier rise 2.7 percent before the listing at Lang & Schwarz.
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