Having obtained all the necessary approvals from the responsible competition authorities, Swiss Life has completed its purchase of CORPUS SIREO with effect from 1 October 2014 at the agreed price of EUR 210 million.
Swiss Life announced on 13 August 2014 that it was acquiring CORPUS SIREO with retroactive effect from 1 January 2014. Founded in 1995 and based in Cologne, CORPUS SIREO is the leading independent real estate asset management service provider in Germany. From 11 branch offices in Germany and Luxembourg, the company manages some EUR 16 billion in real estate assets and generates revenues of approximately EUR 160 million. The sellers of the company are three German savings banks: Sparkasse KölnBonn (50%), Stadtsparkasse Düsseldorf (25%) and Frankfurter Sparkasse (25%). The purchase was finalised, with the receipt of all the necessary approvals from the responsible competition authorities, as of 1 October 2014. With its approximately 550 employees, CORPUS SIREO will be managed as a business area within Swiss Life Asset Managers. The transaction enables Swiss Life to position itself as a leading provider in the core strategic area of real estate asset management in Germany, in addition to Switzerland and France.
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Swiss Life
The Swiss Life Group is one of Europe's leading comprehensive life and pensions and financial solutions providers. In its core markets of Switzerland, France and Germany, Swiss Life offers individuals and corporations comprehensive and individual advice plus a broad range of own and partner products through its sales force and distribution partners such as brokers and banks.
Swiss Life Select, tecis, HORBACH, Proventus and Chase de Vere advisors choose suitable products for customers from the market according to the Best Select approach. Swiss Life Asset Managers offers institutional and private investors access to investment and asset management solutions. Swiss Life provides multinational corporations with employee benefits solutions and high net worth individuals with structured life and pensions products.
Swiss Life Holding Ltd, registered in Zurich, was founded in 1857 as Schweizerische Rentenanstalt. The shares of Swiss Life Holding Ltd are listed on the SIX Swiss Exchange (SLHN). The Swiss Life Group employs a workforce of around 7000, with approximately 4500 certified financial advisors.
