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Finance Aareal Bank shortlists private equity firms in sale of tech unit – sources – Financial Post

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FRANKFURT — German real estate lender Aareal Bank has shortlisted several private equity groups interested in a stake in its software business Aareon, people close to the matter said.EQT, Blackstone and Bain are among those to have advanced to the final round of bidding for a minority stake in Aareon, which is expected to be…
Finance Aareal Bank shortlists private equity firms in sale of tech unit – sources – Financial Post

Finance

FRANKFURT — German trusty estate lender Aareal Financial institution has shortlisted loads of non-public equity groups attracted to a stake in its instrument industry Aareon, folks shut to the matter stated.

EQT, Blackstone and Bain are amongst those to enjoy advanced to the final round of bidding for a minority stake in Aareon, which is anticipated to be valued at 500-600 million euros ($560-$672 million) as a entire, collectively with debt, in a sale, they added.

Aareal Financial institution, EQT and Blackstone declined to observation, while Bain used to be now not at the moment accessible for observation.

In Could well, Aareal Financial institution stated it used to be working with consultancy company Arma Companions and spirited bids for a minority stake in Aareon to support finance the instrument industry’s future boost.

Activist hedge fund investor Teleios Capital had beforehand entreated Aareal Financial institution to reduction in mind a sale of Aareon and never to brush apart expressions of interest in a majority or outright rob of Aareon.

Basically based completely on folks shut to the matter, loads of non-public equity groups enjoy proposed shopping a majority of Aareon and even some further Aareal sources with a stare of mixing them with their have sources.

Aareal has to this point stated it is barely making an try to ranking a minority investor.

($1 = 0.8930 euros) (Reporting by Arno Schuetze; bettering by Thomas Seythal and Put Potter)

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