Success of Concordia's takeover bid for the Rothschild investment bank

Concordia, holding company of the Rothschild family, holds 95.65% of the capital of the Rothschild investment bank

The bank's largest shareholder with nearly 40% of the capital, Concordia announced in February its intention to make a public purchase offer. It sought to acquire the securities that it did not hold and which were also not held by the other members of the shareholders' agreement concluded in February, i.e. approximately 45% of the shares. Following the closing of the transaction on September 8, the Rothschild family holding company holds “directly and in concert” 73,909,273 Rothschild and Co shares, representing 112,552,171 voting rights, or 95.65% of the capital and 95.79% of the voting rights of the company. “The suspension of the listing of shares of the Rothschild company is maintained until the implementation of the compulsory withdrawal” from the Stock Exchange, it is also specified. To be able to carry out a public buyout offer (OPR), Concordia had to hold at least 90% of the shares.

Several big names in French capitalism - present in the shareholders' agreement - including the Peugeot and Wertheimer (Chanel) families were to acquire a stake in the investment bank as part of the operation. “None of the group's businesses require recourse to the capital markets. Furthermore, their performance must be assessed over the long term. The status of a private company therefore appears more relevant than that of a listed company,” the holding company specified in February to justify its plan to withdraw from the Stock Exchange in the event of a favorable outcome of the takeover bid. Lazard's great rival, the Rothschild group