Burkhalter Holding AG (SWX:BRKN) agreed to acquire Poenina Holding AG (SWX:PNHO) for approximately CHF 290 million on March 30, 2022. As part of the consideration, Burkhalter will issue 4,227,466 registered shares.

The transaction is still needs to be approved by the shareholders of the two companies at their respective general meetings. The newly issued securities will then be exchanged for the current shares of Poenina. The shareholders of the latter will thus receive for each security in their possession, with a nominal value of 10 cents, 0.73 nominative Burkhalter. The leadership of both partners should remain in place. Poenina's Chief Executive Officer, Christoph Arnold, will join the combined group's executive board. All staff will be taken over and new jobs are expected to be created, without further details. On May 17, 2022, the Competition Commission approved the transaction. On May 30, 2022 or May 31, 2022, the Shareholders' Meetings of Poenina holding ltd and Burkhalter Holding Ltd will vote on the companies' merger plans. As of May 30, 2022, Poenina Holding AG shareholders approved the transaction. As of May 31, 2022, Burkhalter Holding AG shareholders approved the transaction. The legal closing of the merger is planned to take place on June 29, 2022.

Burkhalter Holding AG (SWX:BRKN) completed the acquisition of Poenina Holding AG on June 30, 2022. IFBC acted as fairness opinion provider in the planned merger between Burkhalter and Poenina.