CPP Investments acquires an indirect 20% shareholding in Atlantic BidCo GmbH, which has made an offer for all shares of Aareal Bank AG

TORONTO and LONDON, Dec. 17, 2021 /CNW/ - CPP Investment Board Europe S.àr.l, a wholly owned subsidiary of Canada Pension Plan Investment Board ("CPP Investments"), has acquired an indirect 20% shareholding in Atlantic BidCo GmbH (the "Bidder"), which has made an offer for all of the no-par value bearer shares of Aareal Bank AG, a German listed company. The Management and Supervisory Board of Aareal Bank support the offer and intend, subject to final review of the Offer Document, to recommend that Aareal Bank shareholders accept the offer.

CPP Investments' financial commitment is approximately €360 million. Other shareholders of the Bidder include funds managed and advised by Advent International Corporation and Centerbridge Partners, L.P., as well as further minority shareholders.

The objective of the transaction is to support Aareal Bank's existing strategic ambitions. With a stable shareholder base, the Bidder believes Aareal Bank will be better positioned to focus on its longer-term objectives and accordingly accelerate Management's "Next Level" agenda. As part of this programme, the Bidder supports plans to strengthen all three of Aareal Group's segments by increasing investments across the financial services, real estate, software and payments sectors, primarily financed by retaining earnings.

Full details of the offer are included in the formal announcement which can be found at https://atlantic-offer.com/.

About CPP Investments
Canada Pension Plan Investment Board (CPP Investments) is a professional investment management organization that manages the fund in the best interest of the more than 20 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At September 30, 2021, the Fund totalled C$541.5 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Facebook or Twitter.

SOURCE Canada Pension Plan Investment Board

Frank Switzer, Managing Director, Investor Relations, CPP Investments, T: [phone], [email protected]