Three-way valve with a valve housing and a closing body arranged in a longitudinally movable manner in the valve housing. An inlet channel, a first outlet channel and a second outlet channel are formed in the valve housing. The closing body interacts by longitudinal movement with a first valve seat formed in the valve housing and thereby opens and closes a first hydraulic connection between the inlet channel and the first outlet channel. Furthermore, the closing body interacts by longitudinal movement with a second valve seat formed in the valve housing and thereby opens and closes a second hydraulic connection between the inlet channel and the second outlet channel. A throttle is formed in the second hydraulic connection.