The bank could not initially be reached for comment.
(Photo: PR)
Frankfurt Aareal Bank confirms speculation about a possible takeover of the bank. According to an ad hoc announcement from the bank, the board of directors had “entered into open-ended talks about a possible majority stake in Aareal Bank by a group of financial investors led by Centerbridge and TowerBrook, as well as with Advent also involved.
The financial investors had “put in the room” a public purchase offer at a price of 29.00 euros per share. “This corresponds to a premium of around 35 percent compared to the volume-weighted average Aareal Bank share price over the past three months,” the bank continued. The financial investors would currently inspect the business documents of the bank. “It is currently uncertain whether the talks will lead to a transaction or an offer to Aareal Bank’s shareholders.”
Rumors had already made the rounds beforehand and gave Aareal Bank the biggest price jump in 13 years. The real estate financer’s shares rose by almost 27 percent and, at EUR 29.90, are as expensive as they were last two years ago.
Spokespersons from Advent and Centerbridge have not wanted to comment so far.
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