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Peugeot and Dassault families could invest in Rothschild & Co -Les Echos

Published 08/02/2023, 20:29
Updated 09/02/2023, 15:44
© Reuters. FILE PHOTO: Banker David De Rothschild arrives for the 34th annual dinner of the Representative Council of Jewish Institutions of France (CRIF - Conseil Representatif des Institutions juives de France) on February 20, 2019, at the Louvre Carrousel in Pari
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(This Feb. 8 story has been corrected to say that the Dassault family has no stake in Concordia in paragraph 6)

PARIS (Reuters) - The Peugeot family and the Dassault family are prepared to invest in Rothschild & Co, the Paris-listed investment bank the Rothschild family plans to take private, Les Echos said on Wednesday.

"According to our information, the Peugeot and Dassault families are ready to help the banking dynasty fund its plan to delist the prestigious bank Rothschild & Co," Les Echos said, without citing its sources.

A spokesperson for the Peugeot family declined comment. A spokesperson for the Dassault family couldn't be reached out of office hours.

Under the plan unveiled on Monday, Concordia, Rothschild & Co's largest shareholder, is poised to file a tender offer for the shares at 48 euros each, Rothschild & Co has said.

© Reuters. FILE PHOTO: Banker David De Rothschild arrives for the 34th annual dinner of the Representative Council of Jewish Institutions of France (CRIF - Conseil Representatif des Institutions juives de France) on February 20, 2019, at the Louvre Carrousel in Paris. Ludovic Marin/Pool via REUTERS/File Photo

The price represents a premium of 19% compared with Rothschild & Co's closing stock price on Friday of 40.25 euros, and a 34% premium to the volume-weighted average share price of the last four months.

The Dassault family does not own a stake in Concordia, a spokesperson for Rothschild & Co said.

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