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Wüstenrot Bausparkasse to acquire Aachener Bausparkasse

Wüstenrot Bausparkasse AG, a unit of German insurance group Wüstenrot & Württembergische AG, will take over Aachener Bausparkasse AG, the companies said Dec. 13.

Confidentiality has been agreed on the price of the deal, which is pending regulatory approvals.

Wüstenrot Bausparkasse is the second-largest building society in Germany, with an annual gross new business volume of some €13.6 billion per year. The acquisition of Aachener Bausparkasse will increase the annual business volume of the group by an amount in the triple-digit-million-euro range.