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Bellevue Group AG: Bellevue Group acquires German-based StarCapital AG and diversifies its product range in Asset Management - capital increase planned

Bellevue Group AG / Bellevue Group acquires German-based StarCapital AG and
diversifies its productrange in Asset Management - capital increase planned .
Processed and transmitted by NASDAQ OMX Corporate Solutions.The issuer is
solely responsible for the content of this announcement.
* Acquisition of StarCapital AG, an independent asset manager based in
Oberursel, near Frankfurt/Main, with CHF 2.5 bn in assets under management
* Bellevue Group's assets under management increase to CHF 7.8 bn
* StarCapital's proven expertise in multi-asset and fixed-income strategies
enables diversification into new asset classes and broadens Bellevue's
product range in non-healthcare sectors
* Office close to Frankfurt/Main strengthens Bellevue Group's position in a
key European market
* StarCapital will be retained as an independent brand
* Capital increase of CHF 30-40 mn via rights issue planned to finance the
acquisition and to retain Bellevue Group's strategic flexibility for
further acquisitive action
* Peter E. Huber will acquire an interest in Bellevue Group

Bellevue Group intends to acquire 100% of StarCapital, an independent asset
manager based in Oberursel, near Frankfurt/Main. This acquisition is subject
to approval by the Swiss and German regulatory authorities FINMA and BaFin as
well as to additional terms and conditions customary for such transactions.
The acquisition encompasses the firm's entire range of investment funds with
total client assets of approximately CHF 2.5 bn as of December 31, 2015 and
all of its 16 employees.

Through this acquisition Bellevue Group is deliberately diversifying into new
asset classes and expanding its offering of non-healthcare investment
solutions. Bellevue Group's investment competence was previously focused on
sector and regional strategies while StarCapital's investment solutions
consisted of bond, equity and wealth management funds as well as ETF
strategies. There is no overlap between the two product ranges; they are
ideally complementary. StarCapital will continue to operate as an independent
company and retain its brand name as well as its current employees. It is
expected to profit from a stronger operating position after the transaction

Peter E. Huber, StarCapital AG Partner and Fund Manager: "With Bellevue Group
we have found a competent partner with a renowned international profile who
can lead StarCapital to future success in a changing market environment.
Bellevue Asset Management's business model creates attractive growth
opportunities for StarCapital in Switzerland and beyond." The StarCapital
funds will continue to be managed by their current managers using their
time-tested investment process. Peter E. Huber will continue to manage the
equity, bond and wealth management funds and Markus Kaiser will be
responsible for the ETF strategies. Capital market research, an important
tool of the fund management company, will remain the responsibility of
Norbert Keimling.

André Rüegg, CEO of Bellevue Group: "StarCapital represents an ideal expansion
of our investment expertise and market presence. With StarCapital's wealth
management funds, we can offer our clients first-class multi-asset and
flexible equity and fixed-income solutions. Peter E. Huber, who has played a
pivotal role in shaping and growing StarCapital, is recognized as one of
Germany's most experienced asset managers. This acquisition enhances our
presence in Germany and our access to this key European market. Expansion
into new asset classes and the enlargement of our investment product range
beyond the healthcare sector will further diversify Bellevue Asset
Management's income base and boost recurring income."

The purchase agreement includes a symmetrical price adjustment mechanism based
on StarCapital's average net profit for the fiscal years 2016-2018. Bellevue
Group is expecting the acquisition to be immediately value accretive for all
shareholders. Bellevue Group's dividend policy of payouts from operating cash
flows will remain unchanged after the acquisition.

Capital increase through rights offering planned

In order to move ahead with the planned acquisition of StarCapital and to
retain Bellevue Group's strategic flexibility in the pursuit of its forward
strategy, a capital increase via rights issue in the amount of CHF 30-40 mn
is planned for the second quarter of 2016. The Board of Directors of Bellevue
Group will submit a motion to increase authorized share capital at the Annual
General Meeting on March 22, 2016.

The founding shareholders support the proposed capital increase and have
expressed their intention to exercise a substantial amount of their
subscription rights. It is also planned that Peter E. Huber will purchase a
stake in Bellevue Group AG. Details regarding the proposed motion of the
Board of Directors will be included with the official invitation to the
Annual General Meeting.

Consolidated results for fiscal year 2015 will be published on February 29,


Media Relations:

Jürg Stähelin, IRF Communications,

Telephone +41 43 244 81 51,

Investor Relations:

Daniel Koller, CFO Bellevue Group

Telephone +41 44 267 67 00,

Contact StarCapital:

Holger H. Gachot, Supervisory Board Member, StarCapital AG

Telephone +49 6171 694 19-0,

Bellevue Group

Bellevue Group is an independent Swiss financial boutique listed on the SIX
Swiss Exchange. Established in 1993, the company and its approximately 90
employees are specialists in the fields of Brokerage, Corporate Finance and
Asset Management. Bellevue Group includes the two subsidiaries Bank am
Bellevue and Bellevue Asset Management. The bank boasts superb knowledge of
the Swiss stock and bond market and offers independent research opinions and
recommendations as well as viable solutions for capital market transactions.
Bellevue Asset Management is focused on selected active equity investment
strategies in growing markets, in healthcare industries as well as in other
special themes such as entrepreneur-led companies.

StarCapital AG

StarCapital was established in 1996 and offers comprehensive wealth management
solutions. Assets under management as of December 31, 2015 amount to CHF 2.5
billion. StarCapital's team relies on its many years of experience and its
proprietary capital market research to deliver strong investment results.
StarCapital fund managers have received numerous awards for outstanding
performance. Fund strategies reflect the company's maxim of "Grasp the
broader picture, seize the opportunities".

This publication shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of securities referred to herein
in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration, exemption from registration or qualification
under the securities laws of any such jurisdiction. The securities referred
to herein have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "Securities Act"), and may not be
offered or sold in the United States or to U.S. persons (as such term is
defined in Regulation S under the Securities Act) absent registration or an
exemption from registration under the Securities Act. The issuer of the
securities has not registered, and does not intend to register, any portion
of the offering in the United States, and does not intend to conduct a public
offering of securities in the United States.

This publication constitutes neither an offer to sell nor a solicitation to
buy securities of Bellevue Group and it does not constitute a prospectus
within the meaning of article 652a and/or 1156 of the Swiss Code of
Obligations or a listing prospectus within the meaning of the listing rules
of the SIX Swiss Exchange. The offer will be made solely by means of, and on
the basis of, an offering circular and listing prospectus which is to be
published. An investment decision regarding the publicly offered securities
of Bellevue Group should only be made on the basis of the offering circular
and listing prospectus.

Press Release (PDF)


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Bellevue Group AG via Globenewswire


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