Rothschild & Co. Goes Private as Rothschild Family Triumphs in Takeover Bid

Bullion Bite

In a strategic move unveiled this July, the esteemed Rothschild family has emerged victorious in its bid to reclaim Rothschild & Co., steering the investment bank towards a private venture, as confirmed by the French financial markets overseer, AMF, on Tuesday.

The family's holding entity, Concordia, now wields an impressive 95.65 percent ownership of the share capital and an equally commanding 95.79 percent of the voting rights in this venerable institution, solidifying their position in the wake of the tender's culmination on September 8.

Back in February, Concordia, already the largest stakeholder with an impressive 40 percent capital stake, disclosed its intentions to initiate a takeover bid, setting sights on acquiring the remaining bank shares under external ownership.

"In light of this resounding outcome, Concordia is poised to imminently approach AMF, advocating for the mandatory delisting of the bank's shares from the stock exchange," declared the entity in a statement released on Tuesday.

For a mandatory delisting to materialize, Concordia was mandated to secure no less than 90 percent of the outstanding shares.

Notably, the holding company asserted back in February that none of the conglomerate's enterprises necessitated recourse to capital markets, affirming the pertinence of adopting a private status.

The illustrious lineage of this banking dynasty was set in motion by Mayer Amschel Rothschild in Frankfurt during the 18th century, while his five sons subsequently expanded the empire across key European hubs: Frankfurt, London, Paris, Vienna, and Naples, during the early 19th century.

In more contemporary times, the institution garnered attention for its association with Emmanuel Macron, who once graced its ranks before ascending to the presidency of France.

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