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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.