WEKO gives green light for Tertianum takeover

The Competition Commission has raised no objections to the takeover of the Tertianum Group by the Capvis Equity V LP fund of the Capvis investment company, Swiss Prime Site announced. The closing of the transaction is expected to take place in the next few weeks.

The purchase agreement covers the operations of more than 80 residential and care centers and residences in all parts of Switzerland. Capvis will take over the approximately 4,900 employees and the management. The 16 properties and four projects held by Swiss Prime Site, on the other hand, will remain in the ownership of the real estate company.

Swiss Prime Site had announced the sale of the Tertianum Group in December 2019. With the sale, the business model will focus even more strongly on value creation from real estate and the real estate-related group companies, it said at the time. After completion of the transaction, Swiss Prime Site expects a significant profit contribution in the 2020 consolidated financial statements. (ah)