(News Bulletin 247) – The Rothschild & Co bank has announced that it plans to bring into its capital the Peugeot family and the Wertheimer family, which owns the famous fashion house. These new shareholders will join a concert led by the Rothschild family to delist the investment bank.
The Rothschild investment bank announced on Monday that it planned to bring several big names in French capitalism into its capital, including the Peugeot and Wertheimer families, a week after the announcement of its plan to delist.
This agreement would allow the entry into the capital, alongside the holding company of the Rothschild family, Concordia, “new members” including Peugeot Invest and Mousse Partners, investment vehicle of the Wertheimer family (owner of Chanel), according to a press release published alongside the bank’s annual results.
Current shareholders would have to strengthen, like the Dassault group and the Italian industrialist Giammaria Giuliani.
Other investors, such as members of the English Rothschild family, including Hannah Rothschild, or associates, will also be part of this new pact, entitled “Concert”.
Long-term investors
“Peugeot Invest has undertaken to invest alongside Concordia and other long-term investors and could hold, if the offer is successful, up to 5.1% of the capital of Rothschild and Co”, a confirmed in a separate press release the investment vehicle of the Peugeot family, specifying that it was “intended to be represented (within) the supervisory board”.
“These are long-term investors, who share the same convictions about the development of a company like ours”, explained during a press presentation François Pérol, partner and co-chairman of the executive committee of the bank. business.
The various investors have undertaken to keep the securities for a period of at least 8 years and have no assurance of being able to part with them afterwards, as liquidity is not guaranteed, specified François Pérol.
Ultimately, the Concordia holding will hold at the end of the operation, scheduled to begin at the end of the semester, around 55% of the capital, long-term investors around 35% and partners 10%.
The group also published a net profit down 21% in 2022, compared to the record of 2021, to 606 million euros.
Turnover amounted to nearly 3 billion euros, up 1%.
“Solid” results, for “a very hectic year”, according to François Pérol.
(With AFP)
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