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Aareal Bank shortlists private equity firms in sale of…

FRANKFURT, July 1 – German real estate lender Aareal Bank has shortlisted several private equity groups interested in a stake of its software business Aareon, people close to the matter said.

EQT, Blackstone and Bain are among those who have advanced to the final round of bidding for a minority stake in Aareon, which is expected to be valued at 500-600 million euros, including debt, in a potential sale, they added.

Aareal Bank, EQT and Blackstone declined to comment, while Bain was not immediately available for comment. (Reporting by Arno Schuetze; editing by Thomas Seythal)

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