Commerzbank Concludes Purchase of Majority Stake in Aquila Capital
German bank Commerzbank AG has completed the acquisition of 74.9% of asset manager Aquila Capital Investmentgesellschaft, following a decision that had already been jointly announced in January 2024, it was announced today.
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Economia Commerzbank
"After obtaining the necessary approvals from the respective German and European authorities, the transaction has now been successfully completed," Commerzbank and Aquila Capital announced in a statement, emphasizing that the aim is to "accelerate the growth" of the two entities.
"With this transaction, Commerzbank is accelerating its growth in the sustainability business area," they said, explaining that Aquila Capital Investmentgesellschaft -- a Hamburg-based asset manager -- manages "sustainable real asset portfolios with a focus on renewable energy for more than 300 clients, mostly institutional."
In turn, Aquila Capital Investmentgesellschaft, benefiting from the Commerzbank brand and its distribution network, "will expand its access to private and corporate clients and also to a large number of institutional clients."
"The cooperation aims to make Aquila Capital Investmentgesellschaft one of the leading asset managers for sustainable investment strategies in Europe," the statement said.
The transaction now completed is the result of the strategic partnership signed this year between Aquila Capital and Commerzbank, with the remaining shares of the company still held by Aquila Group.
Read Also: Commerzbank's profit rises 28.8% to 747 million euros until March (Portuguese version)
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