Swiss Prime Site Acquires All Shares of Tertianum Group

Swiss Prime Site AG (SIX: SPSN), the leading company for real estate investments in Switzerland, has entered into an agreement with the sellers, including Zürcher Kantonalbank, Helvetia Swiss Life Insurance Company Ltd, Swiss Re and the Marazzi Familiy for the acquisition of all shares of Tertianum AG. Tertianum is the leading company in the assisted living segment in Switzerland. The transaction was based on an enterprise value of CHF 495 million, apportioned into the real estate holdings and operating businesses. The acquisition is subject to approval by the Swiss Competition Commission.

Bär & Karrer acts as legal advisor to Swiss Prime Site AG in the transaction. The team of Bär & Karrer includes Thomas Reutter and Daniel Heiniger (Corporate), Corrado Rampini, Charles Gschwind and Christian Hagen (Real Estate), Till Spillmann (Financing), Markus Schott (Regulatory), Laura Widmer (Employment) and Mani Reinert and Romina Brogini (Merger Control).