BERLIN – Czech billionaire Daniel Kretinsky is set to accept a takeover offer for Germany’s Aareal Bank from three financial investors, according to a source.
The buyout group, which includes United States-based Advent International, Canadian pension fund CPPIB and Centerbridge Partners, reported an acceptance rate of 26.99% on Monday.
That includes a call option for 6.85%, the investors said.
Kretinsky, one of Aareal’s three largest shareholders, is behind that position, said a person familiar with the transaction.
(Reporting by Alexander Huebner; Writing by Miranda Murray; Editing by Paul Carrel)