Advent, Centerbridge to make takeover offer for Aareal Bank
BERLIN, Nov 23 (Reuters) - Investors Advent and Centerbridge on Tuesday announced plans to launch a voluntary takeover offer for Germany's Aareal Bank that would value the bank at 1.7 billion euros ($1.9 billion).
The offer price 29 euros per Aareal share, a 35% premium over the volume weighted average during the last three months, Aareal Bank said in a statement.
"The announced offer is in the best interests of our Company and its stakeholders," Aareal Bank Chief Executive Officer Jochen Kloesges said.
In October, the bank, which specialises in real estate lending, said it was in talks about a possible acquisition of a majority stake with a group of investors. ($1 = 0.8900 euros) (Reporting by Riham Alkousaa; Editing by Christoph Steitz)
