Investor Kretinsky more than doubles Aareal’s stake

In the struggle to take over or split up the real estate financier Aareal Bank, the Czech investor Daniel Kretinsky is increasing the pressure.

Last week he increased his stake from 3.08 to 7.80 percent, according to a voting rights announcement published on Friday evening. Only at the end of October was a share of just over 3 percent known.

At the beginning of October, Aareal Bank published open-ended discussions with potential buyers from among financial investors, based on an indicative price of EUR 29 per share. After its publication on the Tradegate trading platform, the price of the paper recently increased by almost 1 percent to a good 28 euros. In mid-October, the “Börsen-Zeitung” reported that financial investor Towerbrook had left the consortium of interested parties. Centerbridge and Towerbrook had previously been in charge, Advent had been named as a further participant.

Advent is not an unknown investor for Aareal Bank. Last year, the Wiesbaden-based company brought the financial investor on board as a minority owner of its IT subsidiary, Aareon. Above all, this should be of interest to a buyer of Aareal Bank.


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