Attacks by investors Petrus and Teleios: Aareal Bank in the grasshopper storm

Real estate financiers in the autumn storm:

Aareal Bank has to fight on three fronts

Photo: Fredrik Von Erichsen / picture alliance / dpa

The tone was rough, the message unmistakable: in a letter to

(54), head of the real estate financier Aareal Bank, major investor Petrus Advisers vented his displeasure on November 6th.

The institute must become more attractive to shareholders: turn every stone, reduce costs, increase earnings.

If no action follows, one will increase the pressure with other instruments.

This is how a participant summarizes the letter.

Two days later the next blow: Merkens announced a break due to illness;

he will probably be absent for three to four months.

And another four days later, the bank cut its profit forecast for 2020, justifying it with corona effects.

The institute is troubled by rising loan defaults and poor new business, which is causing interest income to fall.

Activist investors, a sick chairman, painful consequences of the pandemic - Wiesbadener Bank is shaken by a perfect storm.

The funds in particular are not resting.

In addition to Petrus, Teleios is also involved in Aareal;

the investors each hold less than 10 percent of the shares, the amount fluctuates.

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