WIESBADEN (dpa-AFX) - German property specialist Aareal Bank AG (AAALF.PK) announced Wednesday the successful public takeover offer by Atlantic BidCo GmbH as the minimum acceptance level of 60 percent was exceeded by the end of the acceptance period on May 24.
Atlantic BidCo will be the new majority owner of Aareal Bank, subject to regulatory approvals.
The company noted that statutory additional acceptance period is expected to start on May 31 and end on June 13. Shareholders who have not tendered their shares may still accept the offer during this period.
Atlantic BidCo is a bidder company comprising funds managed and advised by Advent International Corp. and Centerbridge Partners
According to the bidder, the result of the offer is expected to be announced on May 30.
Closing of the takeover offer is subject to regulatory approvals and is expected to take place in the fourth quarter of 2022 or in the first quarter of 2023.
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