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Wiesbaden (dpa) - A shareholder increases the pressure on Aareal Bank.
The hedge fund Petrus Advisers is demanding changes in the supervisory board, Aareal Bank announced on Wednesday evening in Wiesbaden.
Petrus Advisers informed the bank about this and an increase in the stake to 9.8 percent of the voting rights.
Aareal's share price rose on the Tradegate trading platform in an initial reaction.
Petrus Advisers demands that the bank replace three out of eight supervisory board representatives, including the head of the board.
The hedge fund has been pushing for changes at the SDax group for more than a year.
So Petrus called for the IT subsidiary Aareon to be spun off.
In 2020, Aareal Bank sold at least a minority stake in Aareon, to the financial investor Advent.
© dpa-infocom, dpa: 210401-99-52554 / 2