5 January 2017

Takeover of Pax Anlage AG by Baloîse


Baloîse (SIX: BALN) is to acquire a majority stake in publicly listed real-estate company Pax Anlage AG (SIX: PAXN). By entering into agreements with majority shareholders Pax Holding (Genossenschaft), Pax, Schweizerische Lebensversicherungs-Gesellschaft AG and Nürnberger Lebensversicherung AG, Baloîse Life Ltd will acquire around 70 per cent of the share capital and voting rights. Today, Baloîse published the pre-announcement of a public takeover offer for the remaining approx. 30 per cent of shares in free float at a price of CHF 1,600 per share (subject to dilution effects). The aggregate transaction value amounts to approx. CHF 288 mio. The transaction is subject to regulatory approvals.

Walder Wyss acts as legal counsel to Pax Holding (Genossenschaft) and Pax, Schweizerische Lebensversicherungs-Gesellschaft AG on this transaction. The Walder Wyss team is being led by Alex Nikitine (Partner, M&A, Capital Markets) and Francis Nordmann (Partner, Real Estate) and further included Samuel Dürr (Partner, Tax), Fabian D. Glässer (Associate, M&A, Capital Markets) and André Kuhn (Associate, Banking Finance).

News

News

5 January 2017

Takeover of Pax Anlage AG by Baloîse

Baloîse (SIX: BALN) is to acquire a majority stake in publicly listed real-estate company Pax Anlage AG (SIX: PAXN). By entering into agreements with majority shareholders Pax Holding (Genossenschaft), Pax, Schweizerische Lebensversicherungs-Gesellschaft AG and Nürnberger Lebensversicherung AG, Baloîse Life Ltd will acquire around 70 per cent of the share capital and voting rights. Today, Baloîse published the pre-announcement of a public takeover offer for the remaining approx. 30 per cent of shares in free float at a price of CHF 1,600 per share (subject to dilution effects). The aggregate transaction value amounts to approx. CHF 288 mio. The transaction is subject to regulatory approvals.

Walder Wyss acts as legal counsel to Pax Holding (Genossenschaft) and Pax, Schweizerische Lebensversicherungs-Gesellschaft AG on this transaction. The Walder Wyss team is being led by Alex Nikitine (Partner, M&A, Capital Markets) and Francis Nordmann (Partner, Real Estate) and further included Samuel Dürr (Partner, Tax), Fabian D. Glässer (Associate, M&A, Capital Markets) and André Kuhn (Associate, Banking Finance).