Aareal Bank AG, the international property specialist with a century-long history, has initiated its delisting process from the Frankfurt Stock Exchange. The bank's CFO, Marc Hess (NYSE:HES), announced today that trading of the bank's shares will cease after Tuesday. This development follows the bank's acquisition by a consortium led by Advent International and Centerbridge Partners.
The bank, which operates across three continents and is known for integrating environmental, social, and governance (ESG) aspects into its business strategy, reassured investors that high standards of transparency and disclosure would be maintained despite the delisting. Aareal Bank AG has been a fixture on the Frankfurt Stock Exchange since its separation from Depfa bank in 2002.
The decision to remove its shares from trading comes after the successful takeover by private equity firms Advent International, Centerbridge Partners, Canada Pension Plan Investment Board (CPPIB), and other minority co-investors earlier this year in June. The takeover valued the bank at approximately $2.17 billion and resulted in the consortium acquiring around 90% of Aareal's share capital and voting rights.
Aareal Bank AG conducts business through three main segments: Structured Property Financing, Banking & Digital Solutions, and Aareon. The Structured Property Financing segment supports large-volume commercial property investments globally. Banking & Digital Solutions combines advisory services with traditional banking offerings, while Aareon is recognized for providing Software as a Service (SaaS) solutions to the European property industry.
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