Activist investor Cevian Capital has increased its stake in Baloise Holding, it said on Monday, increasing its ability to force changes at the Swiss insurer....
ZURICH - Activist investor Cevian Capital has increased its stake in Baloise Holding, it said on Monday, increasing its ability to force changes at the Swiss insurer.The investment is an increase from the 3.12% stake held by Cevian in Baloise revealed earlier this year. According to Swiss stock market disclosures, the stake was increased to 5.11% by June.
Cevian, which has offices in Stockholm, London and near Zurich, previously invested in Swiss engineering group ABB and last year reported a position in UBS, saying it wanted to double the value of its stake.The increased stake comes after Baloise shareholders voted in April to scrap a 2% cap on voting rights, which had previously limited their influence on the company's management.
The company is due to publish its half-year results and give an investor update on Sept. 12, where it is expected to unveil new mid-term targets.Activist investor Cevian Capital has increased its stake in Baloise Holding, it said on Monday, increasing its ability to force changes at the Swiss insurer. Cevian now holds a position of around 9.4% in Baloise, becoming the biggest investor in the company. The investment is an increase from the 3.
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