Published by Global Banking & Finance Review®
Posted on April 25, 2025
1 min readLast updated: January 24, 2026
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Patria Genossenschaft acquires a 9.45% stake in Baloise from Cevian Capital, supporting a merger with Helvetia. The merger will result in a 13-member board.
(Reuters) -Baloise on Friday said that Patria Genossenschaft had acquired a 9.45% stake in the Swiss insurer, which this week announced plans to merge with competitor Helvetia.
Patria is Helvetia's main shareholder.
The shares were acquired from Cevian Capital, Baloise said, an activist investor which up until now had not commented on the planned merger.
The acquisition was unconditional and the parties agreed not to disclose the purchase price, Baloise added.
Patria will be able to vote with the newly acquired shares at the Extraordinary General Meeting of Baloise to be held on May 23 regarding the merger with Helvetia, Baloise said, adding it would not nominate a seventh board member in connection with the merger with Helvetia.
As a result, the board of the combined company Helvetia Baloise Holding Ltd will have a total of 13 instead of 14 members after the merger, Baloise said.
(Reporting by Ariane LuthiEditing by Ludwig Burger)
The main topic is Patria Genossenschaft's acquisition of a 9.45% stake in Baloise, supporting its merger with Helvetia.
Cevian Capital sold its 9.45% stake in Baloise to Patria Genossenschaft.
The acquisition facilitates the merger between Baloise and Helvetia, resulting in a 13-member board.
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