Vaudoise takes over Berninvest
Vaudoise Insurance Holding Ltd is taking over Berninvest Ltd and Dr. Meyer Asset Management Ltd and Berninvest Ltd. Both companies belong to the Dr. Meyer Beteiligungen AG group of companies.
"This investment gives Vaudoise the opportunity to diversify its corporate strategy and provide asset management services for third parties while remaining close to its core business," says Philippe Hebeisen, CEO of Vaudoise. The acquisition of the funds will also enable economies of scale in the purchase of large real estate projects.
Berninvest AG is the fund management company for the Immo Helvetic and Good Buildings real estate investment funds, with assets under management of over CHF 1.4 billion. The Immo Helvetic investment fund is listed on the SIX Swiss Exchange and has achieved a performance of over eight percent per year since 2010.
Like Berninvest, Dr. Meyer Asset Management AG is part of the Dr. Meyer Beteiligungen AG group of companies. Dr. Max Meyer will remain a member of the Board of Directors of Berninvest AG after the takeover, Vaudoise announced.
The takeover still has to be approved by the relevant authorities. The amount of the purchase price will not be disclosed.
Vaudoise is one of the ten largest private insurers in Switzerland. The Group employs around 1,500 people.
