Rothschild family plans to take its Paris-listed investment bank private

Rothschild & Co SCA

06/02/2023 09:49

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      Take-private submitted to shareholders on May 25
    

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      Shares jump by 17%
    

  
       PARIS, Feb 6 (Reuters) - The Rothschild family is
seeking to take its Paris-listed investment bank private,
Rothschild & Co  ROTH.PA  said on Monday, sending the shares up
by close to 17%.
    Concordia, the family-owned holding and Rothschild & Co's
largest shareholder, is poised to file a tender offer for the
investment bank's shares at 48 euros each, Rothschild said in a
statement. 
    The take-private plan will be submitted to shareholders on
May 25, the investment bank said. 
    Rothschild & Co posted revenues of 2.2 billion euros for the
first nine months of 2022, with gains across all business lines
from deal advisory to wealth and asset management, as per its
latest earnings report.
    However, the group warned of a "more challenging year"
ahead, with lower deal activity and declining assets under
management impacting fee income.
    The Rothschild family owns about 55% of the company's
shares, according to Refinitiv. 
 (Reporting by Mathieu Rosemain
Additional reporting by Pablo Mayo Cerqueiro, editing by Silvia
Aloisi)
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