Gleiss Lutz has advised Morgan Stanley on a takeover bid to shareholders of Aareal Bank made through a consortium of financial investors including Centerbridge and Advent.
Aareal Bank had concluded an investor agreement with the bidding company on 23 November 2021. The bidding company published an offer document on 17 December 2021.
Under the voluntary public takeover bid, the financial investors offer to acquire all shares in Aareal Bank AG from shareholders at a cash price of EUR 29.00 per share. Aareal Bank Group is valued at EUR 1.736 billion based on this offer price. Apart from the other customary conditions, the takeover bid 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.
Morgan Stanley acted as financial advisor to the bidders.
Morgan Stanley was advised by the following Gleiss Lutz team: Dr. Eva Reudelhuber (lead, Finance, Frankfurt), Martin Hitzer (partner, Corporate, Düsseldorf), Dr. Timo Bühler (counsel), Dr. Katja Lehr, Pascal Urban (all Finance, Frankfurt) and Dr. Joscha Meyer and Dr. Charlotte Evers (both Corporate, Düsseldorf).
Gleiss Lutz has extensive expertise in public takeovers and is regularly involved in top-flight deals (both friendly and hostile).
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