Rothschild family buys 8.2 mln shares of Paris-listed investment bank

Rothschild & Co SCA

06/07/2023 23:33

July 6 (Reuters) - Concordia said on Thursday it had
acquired all the shares it was permitted to acquire of
Rothschild & Co  ROTH.PA , paving the way for the Rothschild
family's holding company to open an offer to take the investment
bank private.
    Concordia said it bought 8.18 million shares of Rothschild
at 46.60 euros per share.
    The opening of an offer to delist the bank will take place
following a clearance decision from the French market regulator
AMF. The Rothschild family said in February it was seeking to
take the bank private. 
    Rothschild in May posted a 10% drop in first-quarter sales,
as global mergers and acquisition activity fell to the lowest
level in more than a decade.
    The bank, led by Alexandre de Rothschild, said total group
revenue over the first three months of 2023 fell to 606.2
million euros ($667.30 million) from 675.3 million euros in
2022.

 (Reporting by Chandni Shah and Juby Babu in Bengaluru; Editing
by Shailesh Kuber)
 ((Chandni.shah@thomsonreuters.com;))