Raiffeisen sells its entire capital interest in Helvetia Holding AG to institutional investors in an accelerated bookbuilding offering. With the sale of its capital interest, Raiffeisen is leaving the shareholder pool with Patria Genossenschaft.
The sale of its investment will not affect Raiffeisen's longstanding and successful business relationship with Helvetia. The Raiffeisen banks will continue to distribute Helvetia's products and services.
The investment was sold because of the new focus given to Raiffeisen's network strategy and Raiffeisen's belief that there is no strategic need for a financial investment to underpin a successful cooperation programme. In an environment dominated by growing regulatory capital requirements, Raiffeisen is allocating more of its capital to its core business.
The anchor investor Patria Genossenschaft still holds 34.1% of Helvetia Holding, while the free float is now 65.9%.
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