Aareal Bank’s Investment Agreement With Atlantic BidCo GmbH

Gleiss Lutz advised Perella Weinberg on the transaction. Latham & Watkins represented the Supervisory Board of Aareal Bank.

Aareal Bank has concluded an investment agreement with a bidding company to be named Atlantic BidCo GmbH, the “Bidder”, held indirectly by financial investors Advent International Corporation and Centerbridge Partners, L.P.

The investment agreement sets out the terms and conditions for a voluntary public takeover offer by the bidder to the shareholders of Aareal Bank AG to acquire all shares against a cash consideration of EUR 29.00 per share. Aareal Bank Group is evaluated at EUR 1.736 billion based on this offer price. Following approval by BaFin, the offer document is expected to be published in mid-December 2021. Apart from other customary conditions, the takeover offer provides for a minimum acceptance threshold of 70 per cent and is subject to final approval by the relevant local authorities and other regulatory requirements.

Perella Weinberg acts as financial advisor of the management of Aareal Bank AG.

The Gleiss Lutz team included Dr. Jochen Tyrolt (Picture – partner, lead), Oliver Wolf (both Stuttgart) and Florian Schorn (Munich, all Corporate/M&A).

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.

Involved fees earner: Florian Schorn – Gleiss Lutz; Jochen Tyrolt – Gleiss Lutz; Oliver Wolf – Gleiss Lutz; Dirk Kocher – Latham & Watkins; Markus Krüger – Latham & Watkins; Andreas Lönner – Latham & Watkins; Henning Schneider – Latham & Watkins; Philipp Thomssen – Latham & Watkins;

Law Firms: Gleiss Lutz; Latham & Watkins;

Clients: Aareal Bank – Supervisory Board; Perella Weinberg Partners L.P.;

Federica Tiefenthaler

Author: Federica Tiefenthaler