Rothschild & Co Sees a Better Future in Privatization: Concordia, the family holding company and the largest shareholder of Rothschild & Co, is preparing a takeover bid for the financial institution. An offer will be… Rothschildco privatization
The Paris-listed investment bank Rothschild & Co with offices in Geneva and Zurich seeks a return to full ownership of the family holding company of its largest shareholder and withdraw from the Paris stock exchange.
Concordia is prepared to make an offer at 48 euros per share, according to a statement Monday. An ordinary dividend of 1.40 euros will be added to the purchase price, along with a special dividend of eight euros if Concordia decides to file the offer, valuing the bank at around 3.7 billion euros .Concordia reportedly currently owns 38.9 percent of the company's shares and 47.5 percent of the voting rights.
Rothschild & Co has three business units: the investment bank, asset and wealth management, and business banking. The units would function better as a private company and would not rely on stock market financing, it said of the reasons for the planned move.Each of the businesses is better valued based on its long-term performance rather than short-term earnings. Therefore, private ownership of the group is more appropriate than a stock market listing, it said.
In recent years, Rothschild & Co expanded its US investment banking operations and presence in Europe. The business focuses on the UK and France. In Dealogic's 2022 ranking of M&A fees in EMEA, Rothschild & Co ranked third behind Goldman Sachs and JPMorgan. In Zurich, Rothschild & Co had just announced a further expansion in December, hiring an entire new onshore team. The aim is to accelerate growth in the region. In Geneva, it acquired the private bank Banque Pâris Bertrand in 2020.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Omni Bridgeway gibt Beförderungen für EMEA-Führung und Investmentmanagement in Amsterdam und London bekanntAmsterdam (ots/PRNewswire) - Omni Bridgeway freut sich, die Ernennung von Hannah van Roessel zum Co-Chief Investment Officer – EMEA sowie die Beförderungen von Kees de Visser...
Read more »
Dombbit bringt selbstaufladenden Mining-Rig auf den MarktLondon (ots/PRNewswire) - Dombey Electrics Co. (www.dombbit.com), ein 2010 im Vereinigten Königreich und dann in Finnland gegründetes Unternehmen mit einem Produktionsstandort...
Read more »
Rothschild & Co Sees a Better Future in PrivatizationRothschild & Co Sees a Better Future in Privatization: Concordia, the family holding company and the largest shareholder of Rothschild & Co, is preparing a takeover bid for the financial institution. An offer will be… Rothschildco privatization
Read more »