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Aareal Bank
Banking and Financial Services
Delisted in 2024 following acquisition by a consortium led by Advent, Centerbridge, CPPIB and GS
Aareal Bank AG is a financial institution specializing in commercial real estate financing. The bank owns a 70% stake in Aareon, a Europe-wide provider of SaaS solutions for the property industry.
Our Involvement
2022 | April
We accept the improved offer for Aareal, 5 April 20222022 | February
Letter to Aareal Bank AG, 18 February 2022Press coverage: Finanzinvestoren verfehlten Annahmeschwelle für Aareal-Offerte deutlich, Handelsblatt, 7 February 2022 (Link to metered paywall)Next steps for Aareal, 4 February 20222022 | January
Letter to Aareal Bank AG, 17 January 2022 (in German)Response to OLG ruling and update on Advent/Centerbridge offer, 17 January 2022Press coverage: Aareal Bank’s $2 Billion Buyout Threatened by Hidden Tech Gem, Bloomberg, 14 January 2022 (Link to metered paywall)Ignore Advent/Centerbridge offer, 12 January 2022Presentation: Aareal valuation updateResponse letter from Jochen Klösges, 5 January 2022 (in German)2021 | December
Letter to Aareal Bank AG, 28 December 2021Response letter from Jochen Klösges, 27 December 2021 (in German)Press coverage: Morgan Stanley verhindert Aktionärsrevolte bei Aareal Bank, Manager Magazin, 27 December 2021 (Link to Metered Paywall)Letter to Aareal Bank AG, 20 December 2021The result of today’s Extraordinary General Meeting of Aareal Bank AG, 9 December 20212021 | November
When shareholder value destruction becomes a habit2021 | June
Letter to Aareal’s Supervisory Board, 1 June 2021 (in German)Response letter from Marija Korsch, 10 June 2021 (in German)2021 | May
Presentation: Aareal – Q1/21 earnings analysis with focus on cost improvement opportunitiesList of questions (in German), 18 May 2021Petrus Advisers clarifications to investors, 4 May 20212021 | April
Presentation: Revive AarealPresentation: Cost savings potential analysisExcerpt of the supplementary request filed with Aareal Bank AG, 12 April 2021CVs of the three candidates Heinz Laber, Marion Khueny and Thomas HuerlimannLetter to Aareal’s Supervisory Board, 30 March 2021Response letter from Aareal’s Supervisory Board, 7 April 2021 (in German)2021 | February
Letter to Aareal Bank AG, 10 February 2021Presentation: Additional Thoughts on Aareal and Aareon2020 | November
Letter from Aareal Bank AG, 30 November 2020 (in German)Letter to Aareal Bank AG, 24 November 2020Presentation: Aareal – Greed is not goodLetter to Aareal Bank AG, 6 November 2020Presentation: Considerations on AarealOther Active Investments
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