The Rothschild family is paving the way for a buy-out of Paris-listed Rothschild & Co in a deal valuing the company at €3.7bn.
In a statement released this morning, Concordia, the holding company of the Rothschild family and the bank's largest shareholder, said it intends to offer €48.0 per share for the remaining shares in the company.
"None of the businesses of the group needs access to capital from the public equity markets," the statement said.
"Each of the businesses is better assessed on the basis of their long-term performance rather than short-term earnings. This makes private ownership of the group more appropriate than a public listing," Concordia concluded.
While Concordia holds 38.9% of the share capital, the enlarged family concert currently holds 54.5% and 66.8% of the voting rights.
It intends to file the offer by the end of the first half, noting it is currently in "advanced negotiations" with investors and banks to finalise the financing of this offer.
