Martin Maurel to be acquired by Rothschild for EUR 240m
Martin Maurel, one of the last remaining independent and family-owned banks in France, has agreed to be sold to bigger competitor Rothschild & Co, French daily Les Echos reported. The report said that the project was presented to yesterday Sunday to members of the two companies and that it has not been approved by the relevant authorities yet. The report cited David de Rothschild and Lucie Maurel as confirming the news.
The deal, which could be finalised by the end of the year, values the target at EUR 240m, including 2015 dividend.
According to the report, about 60%-65% of the deal would be made via paper, with an exchange ratio of 1 Martin Maurel share against 126 Rothschild & Co shares, and the remainder in cash.
Martin Maurel, founded in 1825, reported net profits of EUR 19.06m on revenues of EUR 102m in 2015.
Les Echos