DGAP-News

Atlantic BidCo exceeds minimum acceptance threshold

DGAP-News: Atlantic BidCo GmbH / Key word(s): Offer Atlantic BidCo exceeds minimum acceptance threshold 25.05.2022 / 07:30 The issuer is solely responsible for the content of this announcement. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

Atlantic BidCo exceeds minimum acceptance threshold

Frankfurt, May 25, 2022 – In its voluntary public takeover offer to the shareholders of Aareal Bank AG (“Aareal Bank”), Atlantic BidCo GmbH (the “Bidder”), a non-controlled company indirectly held by funds which are respectively managed and advised by Advent International Corporation (“Advent”) and Centerbridge Partners, L.P. (“Centerbridge”), CPP Investment Board Europe S.àr.l, a wholly owned subsidiary of Canada Pension Plan Investment Board (“CPP Investments”), as well as further minority shareholders, has exceeded the minimum acceptance threshold of 60% of Aareal Bank shares.

The result of the offer at the end of the acceptance period is expected to be announced on 30 May 2022.

Advent’s Managing Partner Ranjan Sen said: “We are delighted by the successful takeover offer, which will enhance Aareal’s long-term development and position as a leading industry player. With a stable shareholder base, Aareal Bank will be ideally placed to focus on strengthening all three business segments within the ‘Aareal Next Level programme’”.

Ben Langworthy, Senior Managing Director at Centerbridge, added: “The shareholders of Atlantic BidCo bring extensive investment experience in European financial services, real estate, software and payments. We have been pleased to work closely with Aareal Bank’s management, who supported our offer, and we look forward to taking the next steps to driving forward long-term value creation plans together.”

Those Aareal Bank shareholders who have not accepted the offer during the initial acceptance period can still accept it within two weeks following publication of the preliminary results of the offer by the Bidder. The additional acceptance period is expected to commence on 31 May 2022 and end at midnight (CET) on 13 June 2022.