Aareal Bank sells Aareon, its software unit, to TPG and CDPQ for €3.9B, with TPG as majority owner.
Aareal Bank and majority owner Advent International agreed to sell their software unit, Aareon, to private equity firm TPG and Canadian pension fund CDPQ for €3.9B ($4.2B). Aareon, a European provider of SaaS solutions for the property industry, will become an independent company with TPG as majority owner. The transaction is expected to close in H2 2024, subject to customary conditions and approvals.
June 24, 2024
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