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 Rothschild family holding company, Concordia, of new members including Peugeot Invest and Mousse Partners, investment vehicle of the Wertheimer family (owner of Chanel), according to a press release published in margin of the bank’s annual results.
Current shareholders would be encouraged to strengthen the image of 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, called Concert.
Retention of titles for a minimum of 8 years
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, confirmed in a press release. separated from the investment vehicle of the Peugeot family, stating that it intended to be represented (within) the supervisory board.
They are long-term investors, who share the same convictions about the development of a company like ours, explained during a press presentation Franois Prol, partner and co-chairman of the executive committee of the investment bank.
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 the liquidity is not guaranteed, explained Mr. Prol.
Ultimately, the Concordia holding will hold after the operation, scheduled to begin at the end of the half-year, 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, 606 million euros.
Turnover rose to nearly 3 billion euros, up 1%.
Solid results, for a very bumpy year, according to Mr. Prol.