Rothschild Family Investment Group Concordia with 38.9% Shareholding Announces to Buy France-Listed Investment Bank Rothschild & Co for $4 Billion, Premium of 19% on 10th Feb 2023 Closing Price & To Submit Private Ownership Plan to Shareholders on 25th May 2023
11th February 2023 | Hong Kong
The Rothschild family investment holding group Concordia with 38.9% shareholding of Rothschild & Co, has announced plans to buyout France-listed investment bank Rothschild & Co for $4 billion (€3.6 billion, €48 per share to 61.1% of shareholders), representing a premium of 19% on 10th Feb 2023 closing price (34% premium to volume-weight average price over the last 4 months) and to submit the private ownership plan to shareholders on 25th May 2023. The Peugeot family and the Dassault family are also potential investors alongside Concordia invest in Rothschild & Co in the private ownership plan. Rothschild & Co (6/2/23): “Rothschild & Co has been informed of the intention of Concordia, the holding company of the Rothschild family and Rothschild & Co’s largest shareholder, to file a simplified tender offer for the Rothschild & Co shares at €48.0 per share with dividends attached, and to request the implementation of a squeeze-out. Rothschild & Co intends to propose to shareholders at its Annual General Meeting, to be held on 25 May 2023, the payment of an ordinary dividend of €1.4 per share. The dividend would be paid on 31 May 2023 with an ex-dividend date on 29 May 2023. In addition, subject to the favourable opinion of its Supervisory Board, Rothschild & Co would also propose at this meeting an exceptional distribution of €8.0 per share, which would be paid only if Concordia decides to file this offer. Rothschild & Co has taken note of this proposed transaction and in this context, its Supervisory Board has formed an ad hoc committee and appointed Finexsi, on the committee’s recommendation, as an independent expert, with the task of delivering a report including a fairness opinion on the financial terms of the simplified tender offer and on the exceptional distribution. Rothschild & Co will keep the market informed about the progress of this project, notably during the presentation of its annual results to be held on February 13, 2023.” Concordia is the entity Rothschild & Co Concordia SAS, the holding company of the Rothschild family.
“ Rothschild Family Investment Group Concordia with 38.9% Shareholding Announces to Buy France-Listed Investment Bank Rothschild & Co for $4 Billion, Premium of 19% on 10th Feb 2023 Closing Price & To Submit Private Ownership Plan to Shareholders on 25th May 2023 “
Mayer Amschel Rothschild (1744 – 1812) founded the Rothschild banking dynasty and is referred to as the “founding father of international finance.” Rothschild is one of the most recognised name in the history of banking.
Rothschild Family Investment Group Concordia with 38.9% Shareholding Announces to Buy France-Listed Investment Bank Rothschild & Co for $4 Billion, Premium of 19% on 10th Feb 2023 Closing Price & To Submit Private Ownership Plan to Shareholders on 25th May 2023
About Rothschild & Co
Rothschild & Co is a family-controlled and independent group and has been at the centre of the world’s financial markets for over 200 years. With a team of c.4,200 talented financial services specialists on the ground in over 40 countries, Rothschild & Co’s integrated global network of trusted professionals provides in-depth market intelligence and effective long-term solutions for our clients in Global Advisory, Wealth and Asset Management, and Merchant Banking. Rothschild & Co is a French partnership limited by shares (société en commandite par actions) listed on Euronext in Paris, Compartment A with a share capital of €154,059,554. Paris trade and companies registry number 302 519 228. Registered office: 23 bis avenue de Messine, 75008 Paris, France.
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