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Aareal Bank AG (ARL.F)

Frankfurt - Frankfurt Delayed Price. Currency in EUR
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22.18-1.28 (-5.46%)
At close: 6:08PM CEST
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  • Reuters

    Activist urges Aareal Bank to be open about approaches for Aareon unit

    Activist hedge fund investor Teleios Capital on Wednesday urged the management of German real estate lender Aareal Bank <ARLG.DE> to be transparent about what it called "serious bidders" for its Aareon division that had been rejected. "It is our understanding that for some time, management has regularly received and disregarded expressions of interest in a majority or outright purchase of (division) Aareon from serious bidders," Adam Epstein, co-founder at Teleios, said in a statement. Aareal Bank said on Tuesday it was inviting bids from financial investors for a significant minority stake in Aareon.