Aareal Bank signed an investment agreement with an entity to be named Atlantic BidCo GmbH (Atlantic BidCo), a company established and held indirectly by financial investors Advent International Corporation and Centerbridge Partners, L.P., as well as co-investors.
Atlantic BidCo will make a cash offer to the shareholders of Aareal Bank for the acquisition of all outstanding shares at €29.00 per share. The offer includes a premium of around 35 per cent on the volume-weighted average share price over the last three months, prior to the announcement of the discussions on a potential transaction. Based on this offer price, Aareal Bank Group is valued at €1.736 billion.
Latham & Watkins deal team represented the Supervisory Board of Aareal Bank, led by Hamburg corporate partners Henning Schneider and Dirk Kocher, with Frankfurt regulatory partner Markus Krüger, Hamburg corporate counsel Andreas Lönner, and associate Philipp Thomssen.