Inactive Instrument

Aareal Bank AG Xetra

ARLN

DE000A37FT90

Aareal Bank : Germany's Aareal Bank to buy WestImmo for 350 mln euros

February 22, 2015 at 07:48 am EST

FRANKFURT (Reuters) - Germany's Aareal Bank Group said on Sunday it had agreed to buy property lender Westdeutsche Immobilienbank [WDLGW.UL] (WestImmo) for 350 million euros (258.66 million pounds) from Erste Abwicklungsanstalt.

Aareal said it expected to complete the deal, which is subject to regulatory approval, in the next four months.

(Reporting by Ludwig Burger; Editing by Greg Mahlich)

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Company Profile

Aareal Bank AG is a Germany-based real estate bank. It provides finance, advisory and other services to commercial property and institutional housing sectors. Itâs activities are divided into two core business divisions: Structured Property Financing and Consulting/Services. The Structured Property Financing combines property finance with refinancing, services domestic and international clients on their property and creates financing packages for logistics properties, shopping centers and hotels. The Consulting/Services offers the institutional housing sector services and products for managing residential property portfolios and processing payment flows, providing Information Technology systems consultancy and software products, among others. The Consulting/Services segment operates in Europe, whereas Structured Property Financing segment operates in North America, Europe and Asia. The Company operates Corealcredit Bank AG and Westdeutsche Immobilien AG as wholly owned subsidiaries.

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Banks

Calendar

2024-05-03 - Annual General Meeting

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