Baloise Shareholder Patria Acquires 9.35% Stake Before Helvetia Merger
Deal News | Apr 25, 2025 | EIN
Baloise Group has announced that its main shareholder, Patria, has acquired a 9.35% stake from Cevian Capital, ahead of its planned merger with Helvetia. Cevian Capital, known for its activist investor role, had not publicly commented on the merger prior to this sale. Patria's acquisition of shares is unconditional, and financial details of the transaction have not been disclosed. These shares will grant Patria voting power during Baloise's extraordinary general meeting on May 23, where matters related to the Helvetia merger will be discussed. Despite its increased stake, Patria has chosen not to nominate a seventh board member, resulting in the board size of the soon-to-be combined entity, Helvetia Baloise Holding Ltd., standing at 13 members post-merger.
Sectors
- Insurance
- Investment Management
Geography
- Switzerland – Baloise, Helvetia, and Patria are based in Switzerland, which is the central geography for this merger and acquisition activity.
Industry
- Insurance – The article pertains to companies involved in the insurance industry, specifically Baloise and Helvetia, which are merging.
- Investment Management – Cevian Capital, involved in the transaction as a seller and identified as an activist investor, operates within this industry.
Financials
- Not Disclosed – The purchase price for the 9.35% stake acquired by Patria from Cevian Capital has not been disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Baloise | Target | Company | Baloise is the company whose shares have been acquired ahead of a merger with Helvetia. |
| Patria | Main Shareholder | Company | Patria is the main shareholder of Helvetia and has acquired a 9.35% stake in Baloise. |
| Helvetia | Bidding Company | Company | Helvetia is the company merging with Baloise. |
| Cevian Capital | Selling Company | Company | Cevian Capital is an activist investor that sold its 9.35% stake in Baloise to Patria. |