Bär & Karrer Advises Pax Anlage on the Public Takeover Offer of Baloise
Pax Anlage AG, a real-estate company with a diversified portfolio of properties, listed on the SIX Swiss exchange (SIX: PAXN), and Baloise Life Ltd (Baloise) have entered into a transaction agreement pursuant to which Baloise will launch a public tender offer for the approx. 30 per cent of shares in free float at a price of CHF 1,600 per share. The offer is subject to customary conditions. Concurrently, Baloise entered into agreements with majority shareholders Pax Holding (Genossenschaft), Pax, Schweizerische Lebensversicherungs-Gesellschaft AG and Nürnberger Lebensversicherung AG to acquire the remaining approx. 70 per cent of the share capital and voting rights in Pax Anlage AG. The transaction is further subject to governmental approvals.
Bär & Karrer, together with Battegay Dürr Wagner AG, acts as legal advisors to Pax Anlage AG in this transaction. The Bär & Karrer team includes Thomas Reutter, Mariel Hoch, Daniel Raun, Daniel Heiniger and Sandro Fehlmann (all Corporate/M&A) as well as Mani Reinert (Merger Control).