Home Trading ETFsStock Market Family plans to take Swiss bank Edmond de Rothschild private By Reuters

Family plans to take Swiss bank Edmond de Rothschild private By Reuters

by Reuters
© Reuters. FILE PHOTO: A logo of Banque Privee Edmond de Rothschild is seen on the bank building before a news conference for the group’s 2010 results, in Geneva

ZURICH (Reuters) – The Benjamin de Rothschild family plans to take Swiss bank Edmond de Rothschild (Suisse) S.A. private as a way to consolidate Edmond de Rothschild banking activity and make the Swiss group its operative holding company, the bank said on Wednesday.

The offer price for each bearer share is 17,945 Swiss francs in cash, or 15,500 francs after deducting its proposed dividend, it said. The stock closed on Tuesday at 16,400. Founded in 1953, the private banking and asset management group has 170 billion Swiss francs ($168.72 billion) in assets under management.

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