Baloise Submits Public Tender Offer for Shares of Pax Anlage

Baloise Life Ltd (Baloise) and real-estate company Pax Anlage AG, both listed on SIX Swiss Exchange, have entered into a transaction agreement pursuant to which Baloise will launch a public tender offer for approximately 30 per cent of shares in free float, subject to customary conditions. The pre-announcement of the offer was published on 6 January 2017. Concurrently, Baloise entered into agreements with majority shareholders Pax Holding (Genossenschaft), Pax, Schweizerische Lebensversicherungs-Gesellschaft AG and Nürnberger Lebensversicherung AG to acquire the remaining approximately 70 per cent of the share capital and voting rights in Pax Anlage AG.