Rothschild & Company has agreed to acquire Compagnie Financière Martin Maurel,
the
New York Times
reported.
The companies will merge their private banking and asset-management operations in France, the article said. The transaction values Martin Maurel at €240 million, according to the report.
The deal will “unite two long-established family names in French banking,” the
Times
report said.
Martin Maurel investors will receive 126 Rothschild shares for each share they own, and the Maurel family will receive Rothschild shares in the merger, the
Times
reported.
Rothschild chairman David de Rothschild said in a statement, “Our two companies share an independent family model that is a real strength when compared with our competitors.”
“Martin Maurel traces its roots to 1825, with the founding of Banque Martin Frères,” the
Times
article said. “Its main asset is an 88 percent stake in Banque Martin Maurel, a family-owned private bank that employs about 400 people in France.” (Source:
New York Times
, June 6, 2016.)
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