Czech billionaire Kretinsky ready to sell stake in Aareal bank

Czech billionaire Daniel Kretinsky is set to accept a takeover offer for Germany's Aareal Bank from three financial investors, the Reuters news agency reported citing an unnamed source.

The buyout group, which includes United States-based Advent International, Canadian pension fund CPPIB and Centerbridge Partners, reported an acceptance rate of 26.99% on Monday. That includes a call option for 6.85%, the investors said.

The Vesa Equity Investment Fund, which Křetínský owns together with another entrepreneur, Patrik Tkáč, is one of the bank's three largest shareholders.