Publication of definitive outcome of Baloise's takeover bid for Pax Anlage AG

Basel, May 22, 2017. Following expiry of the additional acceptance period for the successfully completed public takeover bid for all publicly held registered shares in Pax Anlage AG, Baloise has published the provisional outcome.

Offer restrictions

On 6 January 2017, Basler Leben AG (the 'Offeror') published a public tender offer pursuant to section 125 et seq. of the Swiss Federal Act on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (FMIA) for all publicly held registered shares in Pax Anlage AG ('Pax Anlage') each with a par value of CHF 100.00 (the 'Pax Anlage Shares') (the 'Offer').

Up to the end of the additional acceptance period on 16 May 2017, 4pm (CET), a total of 22,018 Pax Anlage Shares had been offered to the Offeror, equating to 12.23 per cent of all Pax Anlage Shares listed as at 16 May 2017 or 42.79 per cent of the 51,461 Pax Anlage Shares to which the Offer related at the time the additional acceptance period ended (success rate). Assuming the transaction is completed, Baloise's long-term equity investment in Pax Anlage at the end of the offer period – including the 803 Pax Anlage Shares that the Offeror has acquired on or off the stock exchange since 10 March 2017 – stands at a total of 150,557 Pax Anlage Shares, equating to 83.64 per cent of the voting rights and the share capital of Pax Anlage (percentage of shareholding).

Subject to all conditions being fulfilled (or their fulfilment being waived) and completion being postponed pursuant to section A.7 of the offer prospectus (offer conditions, waiver of offer conditions, validity period of offer conditions and deferral), the tender offer is likely to be completed on 30 May 2017.

The Offer is subject to the offer restrictions pursuant to the offer prospectus dated 10 March 2017.

As stated in the offer prospectus, the Offeror is aiming to acquire full control of Pax Anlage. Baloise is prepared to purchase additional Pax Anlage Shares from the remaining public shareholders of Pax Anlage in accordance with the best-price rule.

The Offeror will shortly request Pax Anlage to apply to the SIX Swiss Exchange ('SIX') to have Pax Anlage Shares de-listed and to be released from certain stock exchange disclosure requirements in accordance with the SIX listing rules by the time of the de-listing.

Die Baloise Group ist mehr als eine traditionelle Versicherung. Im Fokus ihrer Geschäftstätigkeit stehen die sich wandelnden Sicherheits- und Dienstleistungsbedürfnisse der Gesellschaft im digitalen Zeitalter. Die rund 7'300 Baloise Mitarbeitenden fokussieren sich deshalb auf die Wünsche ihrer Kunden. Ein optimaler Kundenservice sowie innovative Produkte und Dienstleistungen machen die Baloise zur ersten Wahl für alle Menschen, die sich einfach sicher fühlen wollen. Im Herzen von Europa mit Sitz in Basel, agiert die Baloise Group als Anbieterin von Präventions-, Vorsorge-, Assistance- und Versicherungslösungen. Ihre Kernmärkte sind die Schweiz, Deutschland, Belgien und Luxemburg. In der Schweiz fungiert sie mit der Baloise Bank SoBa zudem als fokussierte Finanzdienstleisterin, einer Kombination von Versicherung und Bank. Das Geschäft mit innovativen Vorsorgeprodukten für Privatkunden in ganz Europa betreibt die Baloise mit ihrem Kompetenzzentrum von Luxemburg aus. Die Aktie der Bâloise Holding AG ist im Hauptsegment an der SIX Swiss Exchange kotiert.

Other news

Pax Anlage AG

May 22, 2017

Publication of definitive outcome of Baloise's takeover bid for Pax Anlage AG

Following expiry of the additional acceptance period for the successfully completed public takeover bid for all publicly held registered shares in Pax Anlage AG, Baloise has published the ...

Pax Anlage AG

May 17, 2017

Publication of provisional outcome of Baloise's takeover bid for Pax Anlage AG

Following expiry of the additional acceptance period for the successfully completed public takeover bid for all publicly held registered shares in Pax Anlage AG, Baloise has published the ...