Newspaper article International New York Times

Rothschild & Company to Acquire Martin Maurel

Newspaper article International New York Times

Rothschild & Company to Acquire Martin Maurel

Article excerpt

The combination of their private banking and asset management operations in France would create a bank with $39 billion in assets under management.

Rothschild & Company said on Monday that it had agreed to acquire Compagnie Financiere Martin Maurel in a deal that would unite two long-established family names in French banking.

As part of the deal, the companies would combine their private banking and asset-management operations in France to create a private bank with 34 billion euros, or about $39 billion, in assets under management.

The transaction values Martin Maurel at EUR 240 million.

Under the terms of the deal, Martin Maurel investors would be offered 126 Rothschild shares for each share they own. The Maurel family would receive Rothschild shares in the merger.

"Our two companies share an independent family model that is a real strength when compared to our competitors," David Rene de Rothschild, Rothschild's chairman, said in a statement. …

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