U.S.-based Advent International and Centerbridge Partners have made a joint takeover offer for Germany’s Aareal Bank that values the lender at 1.7 billion euros ($1.9 billion).
“The announced offer is in the best interests of our company and its stakeholders,” Aareal Chief Executive Jochen Kloesges said in a statement on Tuesday.
Aareal, which specializes in real-estate lending, said last month that it was in talks over a potential acquisition of a majority stake with a group of investors.
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