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Aareal Bank Continues To Recommend Accepting Takeover Offer By Atlantic BidCo

Aareal Bank AG (AAALF.PK) said it continue to recommend that shareholders accept offer by Atlantic BidCo GmbH.

In the amended Offer Document, Atlantic BidCo has lowered the minimum acceptance level from 70 per cent to 60 per cent of Aareal Bank shares. The offer price has remained unchanged, at a cash consideration of 29.00 euros per share.

Atlantic BidCo is held indirectly by financial investors Advent International Corporation and Centerbridge Partners, L.P., as well as other co-investors - including the Canada Pension Plan Investment Board (CPPIB).

The acceptance period for the offer was extended until 2 February 2022. Moreover, Aareal Bank confirmed not having received any competing offer since Atlantic BidCo GmbH published its offer.

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