Rothschild owners' bid to delist company crosses 90% threshold (updated)

Rothschild & Co SCA

12/09/2023 13:23

(Adds Concordia statement)
       PARIS, Sept 12 (Reuters) - The majority owners of
Rothschild & Co  ROTH.PA  are now in control of shares
representing 96% of the French bank's capital and voting rights,
watchdog AMF said in a filing on Tuesday, paving the way for the
company to be delisted from the Paris market. 
    Trading of Rothschild shares will remain suspended until
squeeze-out proceedings are implemented, the AMF said.
    The Rothschild family, one of finance's most storied
dynasties, had announced in February its plans to take
Rothschild & Co private.
        In a separate statement on Tuesday, family holding
Concordia said the squeeze-out would start soon and that it
would request AMF to proceed with the delisting.
  
        The bank, best known for its deal-making division that
once employed French President Emmanuel Macron, has grown over
the last three decades beyond pure advisory for mergers and
acquisitions and into wealth management, private equity and debt
financing.
  
    
     
    
    

 (Reporting by Tassilo Hummel; editing by Jason Neely and Silvia
Aloisi)
 ((tassilo.hummel@thomsonreuters.com ; Twitter handle:
@tassilo_hummel;))