DGAP-Ad-hoc: Aareal Bank AG / Key word(s): Miscellaneous
Aareal Bank launches process to sell a minority stake in Aareon
The Management Board of Aareal Bank AG resolved today to enter into discussions with a select group of long-term financial investors - within the framework of a structured process - on the sale of a significant minority stake in subsidiary Aareon AG. The goal of this process is to join forces with a partner, in order to further strengthen Aareon's growth prospects and to further expedite its growth programme - in an environment that is currently favourable for tech enterprises such as Aareon. Aareal Bank intends to remain Aareon's majority shareholder.
The process should be carried out quickly and without prejudice to the outcome, whilst exercising due diligence in its application. The Management Board and Supervisory Board will decide on a possible partnership specifically on the basis of the knowledge gained in the process. From today's point of view, besides the commercial aspects of a potential transaction, key criteria will especially include support for Aareon's growth strategy, particularly in terms of stepping up M&A activities, and the potential partner's specific transaction and sector expertise.
Jürgen Junginger, Head of Investor Relations
19-May-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||Aareal Bank AG|
|Phone:||+49 (0)611 348 - 0|
|Fax:||+49 (0)611 348 - 2332|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Stockholm|
|EQS News ID:||1051249|
|End of Announcement||DGAP News Service|
1051249 19-May-2020 CET/CEST