apoBank parts with AC Capital Partners
In the course of focussing on its core business, Deutsche Apotheker- und Ärztebank (apoBank) parts with its shareholding in AC Capital Partners Ltd (AC Capital) as previously announced. apoBank’s stake of 51% was taken over by a holding company through a Management-Buy-Out. With its new ownership structure based on an extended business concept and the integration of new cooperation partners, AC Capital will focus on its further development.
In September 2005, apoBank acquired the majority in AC Capital. AC Capital acted as asset manager for the bank and mainly managed apoBank’s structured finance products. In the course of the bank’s new strategic orientation, the business activities will focus on the core business with health care professionals and their organisations. Therefore, the originally intended shareholding strategy with AC Capital was not pursued.