Rothschild to take Swiss bank private | Business – The Times

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Rothschild to take Swiss bank private | Business – The Times

The Swiss branch of the Rothschild banking family has unveiled a plan to take Edmond de Rothschild private in a £75 million deal that will create the biggest family-owned bank in Switzerland.

The Benjamin de Rothschild family owns 98 per cent of the private bank and wants to delist the business from the Zurich exchange by buying the rest.

It is offering SwFr17,945 a share, a premium to the stock’s closing price of SwFr16,400 a day earlier and sending the shares up SwFr1,200 yesterday to SwFr17,600. The deal values the remaining 2 per cent at about SwFr99 million (£74.5 million).

Benjamin de Rothschild, 55, is the chairman of Edmond de Rothschild, the private banking and asset management business that was set up by his father…

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