Activist investor Cevian increases stake in Swiss insurer Baloise [Yahoo! Finance]
BALOISE HLDGS UNSP/ADR (BLHEY)
NASDAQ:AMEX Investor Relations:
baloise.com/en/home/investors/publications.html
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Source: Yahoo! Finance
As the largest investor in Baloise, Cevian now holds around 9.4% of the company, boosting its ability to drive changes at the Swiss insurer. Earlier this year, Cevian's stake in Baloise was 3.12%, which jumped to 5.11% by June. With a market valuation of approximately $9bn, Baloise offers life and general insurance solutions, as well as banking and other services. The company is said to be among the top ten insurers in Switzerland, a market that contributes around half of its revenue. Additionally, Baloise operates in several other European countries, including a minor division in Germany that accounted for 15% of its revenue last year. Cevian partner Robert Schuchna, as reported by Reuters , said: “Baloise has the opportunity to become a top-performing Swiss insurer. We believe there is significant value potential in the company.” Baloise stated that it would not discuss its relationships with specific shareholders but expressed anticipation for 12 September, when the co
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