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Provider : Reuters Investment Profile
Provider : Wright Reports
Provider : Sadif Analytics Prime
Provider : Sadif Analytics Prime

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Aareal Bank AG completes acquisition of Corealcredit Bank AG

Monday, 31 Mar 2014 01:01pm EDT 

Aareal Bank AG:Completes acquisition of Corealcredit Bank AG announced on Dec. 22, 2013.Purchase was executed on March 31 and to become effective on March 31.Corealcredit Bank AG is now legally independent subsidiary under umbrella of Aareal Bank Group.Preliminary purchase price agreed with previous owner in contract of December 2013 amounted to 342 million euros.In accordance with provisions of agreement, purchase price is subject to adjustments, amount of which to be calculated as of closing date of acquisition.With view to integration of Corealcredit Bank AG into Aareal Bank Group, it is planned to agree control and profit transfer agreement shortly.