DGAP-Adhoc: Aareal Bank sells 30 per cent stake in IT subsidiary Aareon to Advent International

2020. augusztus 14., péntek, 02:10





DGAP-Ad-hoc: Aareal Bank AG / Key word(s): Strategic Company Decision


Aareal Bank sells 30 per cent stake in IT subsidiary Aareon to Advent International


14-Aug-2020 / 02:10 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Aareal Bank sells 30 per cent stake in IT subsidiary Aareon to Advent International



Aareal Bank AG has agreed a long-term partnership with financial investor Advent International ("Advent"), to further significantly strengthen the growth momentum of its IT subsidiary Aareon AG. Within the scope of this agreement, Aareal Bank will sell a 30 per cent minority stake in Aareon to Advent. The financial terms of the sale are based on an enterprise value for Aareon of approximately € 960 million. This corresponds to an equity value of approximately € 860 million, leading to a purchase price for the 30 per cent stake of approximately € 260 million, payable in cash. Aareal Bank Group will realise a capital gain of approximately € 180 million from the transaction, which will be recognised in Aareal Bank Group"s consolidated IFRS and regulatory equity, not affecting net income. The transaction requires the approval of Aareal Bank AG"s Supervisory Board. Closing of the transaction is subject to customary conditions, primarily related to anti-trust approvals, and is anticipated to occur in the fourth quarter of 2020.






Contact:

Jürgen Junginger, Head of Investor Relations








14-Aug-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de





























Language: English
Company: Aareal Bank AG

Paulinenstr. 15

65189 Wiesbaden

Germany
Phone: +49 (0)611 348 - 0
Fax: +49 (0)611 348 - 2332
E-mail: aareal@aareal-bank.com
Internet: www.aareal-bank.com
ISIN: DE0005408116
WKN: 540811
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Stockholm
EQS News ID: 1118071





 
End of Announcement DGAP News Service




1118071  14-Aug-2020 CET/CEST







fncls.ssp?fn=show_t_gif&application_id=1118071&application_name=news&site_id=geo_holding_tug
Tilos a hír bármilyen adatbázisba történő mentése vagy annak továbbítása harmadik fél számára;kereskedelmi viszonylatban vagy kereskedelmi céllal csak a Deutsche Gesellschaft für Ad-hoc-Publizität mbh írásos engedélyével történhet.

Közzétételek - archívum