Annual General Meeting of Aareal Bank AG Approves Squeeze-Out

On May 3, 2024, Aareal Bank AG's Annual General Meeting decided on a significant corporate action. The meeting approved the squeeze-out of minority shareholders under the German Public Limited Companies Act, favoring the main shareholder, Atlantic BidCo GmbH. Each minority shareholder is set to receive a cash compensation of €33.20 per share. This move received robust support with a vote approval rate of 99.12 percent.

Additionally, changes were made to Aareal Bank AG’s Supervisory Board. Maximilian Rinke, Senior Managing Director of Centerbridge Partners, L.P., was newly elected alongside re-elected members Denis Hall, former Chief Risk Officer at GE Capital, and Hans-Hermann Anton Lotter, Managing Director of Atlantic BidCo GmbH. The terms of former board members ended at the close of this meeting, prompting these new appointments.

The meeting also saw a high approval rate for other agenda items, all surpassing the 98 percent mark, indicating strong shareholder support for the management’s direction.