Activist Cevian Bets on Swiss Finance With Baloise Stake
- Fund built 3.1% stake after changes to voting rights rules
- Cevian also took a major stake in UBS late last year
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Activist fund Cevian Capital AB became a major shareholder in Baloise Holding AG, marking its second big investment in the Swiss finance industry after recently taking a stake in UBS Group AG.
The move comes less than a month after the Swiss insurer changed its bylaws to become more attractive to investors.