Baloise Life Ltd entered into an agreement to acquire Pax-Anlage AG from NÜRNBERGER Beteiligungs-Aktiengesellschaft (DB:NBG6), PAX, Schweizerische Lebensversicherungs-Gesellschaft AG, Pax Holding (Genossenschaft) and others for approximately CHF 200 million.
January 05, 2017
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Baloise Life Ltd entered into an agreement to acquire 70% stake in Pax-Anlage AG (SWX:PAXN) from NÜRNBERGER Beteiligungs-Aktiengesellschaft (DB:NBG6), PAX, Schweizerische Lebensversicherungs-Gesellschaft AG, Pax Holding (Genossenschaft) and others for approximately CHF 200 million on January 4, 2017. In a related transaction, Baloise made a takeover offer to acquire the remaining 30% stake in Pax-Anlage AG (SWX:PAXN). The total transaction value amounts to CHF 288 million. The transaction is subject to government approvals. After the approval of the Weko [Competition Commission] becomes available, the deal is expected to close on March 31, 2017. The transaction will boost Baloise's most profitable asset class in group life business. On February 9, 2017, official approval from Finma was issued while the competition commission approved the deal on March 2, 2017. As on June 2, 2017, Pax Anlage is requesting the delisting of its shares at the Swiss Exchange SIX. Alex Nikitine, Francis Nordmann, Samuel Dürr, Fabian D. Glässer and André Kuhn of Walder Wyss Ltd. acted as legal counsels to Pax Holding (Genossenschaft) and Pax, Schweizerische Lebensversicherungs-Gesellschaft AG. Thomas Reutter, Mariel Hoch, Daniel Raun, Mani Reinert, Daniel Heiniger and Sandro Fehlmann of Bär & Karrer AG acted as legal advisors for Pax-Anlage. Pestalozzi Lachenal Patry acted as legal advisor for NÜRNBERGER Beteiligungs-Aktiengesellschaft. ALANTRA acted as sole financial advisor to Pax Holding (Genossenschaft) and PAX, Schweizerische Lebensversicherungs-Gesellschaft AG. UBS Investment Bank, Americas acted as a financial advisor to Bâloise Holding AG. Julia Wingen, Thomas Hulmann and Edgar Wohlhauser of BDO LLP acted as financial advisors to Baloise Life Ltd
NUERNBERGER Beteiligungs AG is a Germany-based insurance company. It operates through four segments: Life, Health, Property and Casualty, and Banking Services. The Life segment comprises the provision of life insurances, disability insurance, occupational pensions and various forms of risk insurance, and a pension funds. The Health segment comprises subsidiaries engaged in the provision of health and supplementary insurances, as well as care insurances for employees, self-employed and civil servants. The Property and Casualty segment comprises the activities of the Company's subsidiaries engaged in the area of property, casualty and accident insurances, as well as reinsurances. The Banking Services segment includes a credit institution, own financial products, asset management and investment services. The Company operates through a number of subsidiaries in Germany, Luxembourg, Austria and the United States, among others.
Baloise Life Ltd entered into an agreement to acquire Pax-Anlage AG from NÜRNBERGER Beteiligungs-Aktiengesellschaft (DB: NBG6), PAX, Schweizerische Lebensversicherungs-Gesellschaft AG, Pax Holding (Genossenschaft) and others for approximately CHF 200 million.
NÜRNBERGER BETEILIGUNG 
