Edmond de Rothschild: agreement with Rothschild & Co
(CercleFinance.com) - Rothschild & Co, which is based in France and the Geneva-based Edmond de Rothschild Group have entered into a "global agreement" settling the dispute between them over the use of the Rothschild name.
Both groups will also unwind their cross-shareholdings.
It was first agreed that Rothschild & Co would continue to use this name adopted in 2015 (the group was previously called Paris Orléans). The Rothschild Martin Maurel brand will be used in private banking and asset management in France, Belgium and Monaco. Edmond de Rothschild will do the same with its corporate name, in full.
Indeed, "neither of the two groups will be able to use, in the future and in any form whatsoever, the name Rothschild alone". The litigation before the Paris tribunal de grande instance on this matter is therefore definitively ended.
Then, Rothschild & Co and Edmond de Rothschild will unwind their cross-shareholdings (the former is listed on the Paris Stock Exchange, the latter, Edmond de Rothschild (Switzerland), is listed in Zurich), schematically by trading securities associated with cash to cover the difference in value.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Both groups will also unwind their cross-shareholdings.
It was first agreed that Rothschild & Co would continue to use this name adopted in 2015 (the group was previously called Paris Orléans). The Rothschild Martin Maurel brand will be used in private banking and asset management in France, Belgium and Monaco. Edmond de Rothschild will do the same with its corporate name, in full.
Indeed, "neither of the two groups will be able to use, in the future and in any form whatsoever, the name Rothschild alone". The litigation before the Paris tribunal de grande instance on this matter is therefore definitively ended.
Then, Rothschild & Co and Edmond de Rothschild will unwind their cross-shareholdings (the former is listed on the Paris Stock Exchange, the latter, Edmond de Rothschild (Switzerland), is listed in Zurich), schematically by trading securities associated with cash to cover the difference in value.
Copyright (c) 2018 CercleFinance.com. All rights reserved.