Deals
Aareal Bank’s $2 Billion Buyout Threatened by Hidden Tech Gem
- Advent sees 45% increase in value of Aareal Bank software unit
- Private equity firm eyes eventual IPO of Aareon business
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German property lender Aareal Bank AG’s long-running feud with activists is coming to a head next week, as shareholders face a deadline on whether to support a 1.74 billion-euro ($2 billion) private equity buyout.
Aareal Bank investors have until Jan. 19 to accept the offer of 29 euros per share from Advent International and Centerbridge Partners. The buyers argue the bid provides a chance to exit at an attractive premium, while dissident shareholders say it undervalues the company’s prospects.