Activist Cevian Weighs Higher Baloise Stake if Strategy Falters
- Swedish activist has become largest shareholder in Baloise
- Cevian wants insurer to refocus on home market Switzerland
Cevian wants Baloise to focus on its core Swiss market and sell other assets.
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Cevian Capital AB will scrutinize Baloise Holding AG’s upcoming strategy overhaul to decide on whether to ramp up pressure on the Swiss insurer by increasing its stake and potentially install a board member.
Cevian, which is known to push for bold management actions in its target firms, wants Baloise to focus on its core Swiss market and sell other assets, such as its German unit, as well as regional lender Solothurner Bank, according to people familiar with the talks. The strategy update is due Thursday.