Aareal Bank, the German real-estate company, announced its plans to delist its shares from the Frankfurt Stock Exchange after the close of the market on Tuesday. This decision comes after the completion of its takeover by Advent International, Centerbridge Partners, Canada Pension Plan Investment Board, and other co-investors.
The Frankfurt bourse has approved Aareal Bank’s application to revoke its listing, making next Tuesday the last day of trading for the company’s shares.
The takeover of Aareal Bank was completed in June by private-equity groups Advent and Centerbridge, CPPIB, and other minority co-investors. The bidders now have ownership of approximately 90% of the share capital and voting rights. The bid, which was launched last year and valued Aareal at nearly 2 billion euros ($2.17 billion), was successfully executed.
Despite withdrawing from the regulated stock exchange market, Aareal Bank remains committed to transparent communication and high disclosure standards. Marc Hess, the Chief Financial Officer of Aareal Bank, emphasized the bank’s dedication to meeting the expectations of its fixed-income investors.
Aareal Bank was first listed on the stock exchange in 2002 following its spin-off from Depfa bank.