FILE PHOTO: The construction site of "4 Frankfurt" skyscraper is reflected in a shop window in Frankfurt, Germany, July 19, 2023. REUTERS/Kai Pfaffenbach//File Photo
LONDON/FRANKFURT (Reuters) - The owners of Aareal Bank have lined up advisers to sell its tech unit, three people familiar with the matter told Reuters, as the German property lender navigates a global crunch in commercial real estate.
The shareholders, led by Advent International and Centerbridge Partners, recently chose Arma Partners to gauge interest in the division, known as Aareon, the people said. They may tap another investment bank as well, the people said.
