Centerbridge Partners, L.P., Advent International Corporation and CPPIB Equity Investments Inc. cancelled the acquisition of Aareal Bank AG from Petrus Advisers LLP, Teleios Capital Partners GmbH, Adam Epstein, Daniel Kretinsky and others.
As on January 26, 2022, The offer price was increased to 31 per share. No further price increase will be made. All other terms and conditions of the offer remain unchanged. The Management Board and Supervisory Board of Aareal Bank unanimously support the public takeover offer, recommend shareholders to accept it and agree that the offer is in the best interest of all Aareal Bank stakeholders. The acceptance period continues to expire on February 2, 2022. The Bidder does not require a delisting or squeeze out.
Aareal Bank's Management Board is advised by Perella Weinberg Partners as financial advisors and Freshfields Bruckhaus Deringer as legal counsel. The Supervisory Board of Aareal Bank is advised by Deutsche Bank as financial advisor. Jochen Tyrolt of Gleiss Lutz advises financial advisor Perella Weinberg. Dirk Kocher, Markus Krüger and Henning C. Schneider of Latham & Watkins acted as legal advisors to Aareal Bank AG. Morgan Stanley & Co. LLC acted as financial advisor to Centerbridge Partners, L.P., and Advent International Corporation. Gleiss Lutz has advised Morgan Stanley. Carsten Berrar, Max Birke, Michael Rosenthal, Clemens Rechberger and Axel Beckmerhagen of Sullivan & Cromwell LLP acted as legal advisor to Advent. Wilhelm Reinhardt of Gibson Dunn & Crutcher acted as legal advisor to Advent International. Bank of America Corporation (NYSE:BAC) acted as financial advisor to Centerbridge Partners, L.P., Advent International Corporation and CPPIB Equity Investments Inc. Andreas Dehio of Linklaters LLP acted as legal advisor to Centerbridge Partners, L.P., Advent International Corporation and CPPIB Equity Investments Inc.
Centerbridge Partners, L.P., Advent International Corporation and CPPIB Equity Investments Inc. cancelled the acquisition of Aareal Bank AG (XTRA:ARL) from Petrus Advisers LLP, Teleios Capital Partners GmbH, Adam Epstein, Daniel Kretinsky and others on February 2, 2022. Offer lapsed as Offerors failed to reach 60% of minimum acceptance condition. Offerors received acceptance of only 29.45% of Aareal Bank shares.