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Advent, Centerbridge Near Improved Aareal Bank Bid

  • Investors have already secured 37% of voting rights in bank
  • Bidders to submit takeover offer at 33 euros a share
Updated on

Advent International and Centerbridge Partners are preparing a fresh bid for Aareal Bank AG at a 2 billion euros ($2.2 billion) valuation just weeks after failing to take over the German real estate lender.

The private equity firms intend to submit an improved offer of 33 euros per share, according to a statement by the bidders on Tuesday, confirming an earlier Bloomberg News report