_invisibleplane_
22-07-2007, 04:15 AM
The French and English branches of the Rothschild banking dynasty are to unify ownership of the firm in a single holding company for the first time since the family separated in the 19th century.
Under the new structure, the two sides of the family will own shares in a holding company, FamilyCo, which in turn will own the French and English banks through an existing French vehicle called Paris-Orleans, listed on the Paris bourse.
Paris-Orleans will pay €446m (£300m) for a 50pc stake held by the English branch of the family in Concordia BV (after the family motto "concordia, integritas, industria"), a holding company created under an initial alliance in 2003.
Paris-Orleans already owns the other 50pc of Concordia. It will pay half the €446m in shares and half in cash to allow the 75-year-old head of the English branch, Sir Evelyn de Rothschild, to dispose of his €200m stake.
Sir Evelyn stepped down as chairman of the English bank four years ago when the two sides agreed to merge their businesses. At the time, French aristocrat Baron David de Rothschild, son of Guy de Rothschild, who died last month, became executive chairman of both the English and French banks, uniting them at an operational level.
Now they are to be united at shareholder level to "secure the unity and long-term independence of the banking group", said a statement released yesterday.
The move comes almost two centuries after the founder, Mayer Amschel Rothschild, a successful money lender in Frankfurt-am-Main, despatched four of his five sons to different European capitals to take advantage of the rise of capitalism and the growth of international trade.
Nathan was sent to London, where he founded NM Rothschild, and James to Paris, where Banque Rothschild was formed. Over the years, the two sides developed a friendly, and sometimes not so friendly, rivalry.
Legend has it that Nathan was with the Duke of Wellington at Waterloo when Napoleon was defeated and raced back to London to buy British government stock before news of victory spread. He had supplied Wellington with gold to finance the campaign. One hundred and ninety years later, the banks continue to thrive on both sides of the Channel, having survived political upheaval, the threat of larger predators and family strife.
Rothschild banking group unifies
From: news.com.au
The French and English branches of the fabled Rothschild banking family announced their unification overnight, ending a separation that dates from the 19th century.
Under an agreement announced overnight the two will unify their shareholdings under a single holding company, the French group Paris-Orleans.
Symbols of big money and finance, the Rothschild dynasty, which includes media personalities, amateurs of horse racing and owners of prestigious vineyards, is best known for its capital management activities.
The two branches were created at the beginning of the 19th century when the founder of the dynasty, Frankfurt-based Meyer Amschel, sent his sons on a mission throughout Europe to develop the bank he had created.
Mr Amschel was renamed Rothschild by his neighbours because of the red shield which adorned his house.
Of the four sons who left Germany, Nathan settled in London and founded NM Rothschild and Sons. Jacob Meyer, who was nicknamed James, settled for Paris.
Jacob Meyer's success was astounding. He in no time gained influence, largely thanks to his interest in high society life.
The success of the British branch was also spectacular. The son of Nathan, Lionel, in 1858 became the first Jewish member of the upper house of parliament, the House of Lords.
His descendant, Sir Evelyn, the former chief of the British branch who is now aged 75, had privileged relations with the former prime minister Margaret Thatcher.
A backer of the merger between the French and British branches, Sir Evelyn has passed responsibility over to his three children, Jessica, 33, Anthony, 30 and David 28, who all inherit a share in the new group.
Paris-Orleans is to buy the 50 per cent stake held by the English branch of the family in a holding company that controls the banking empire, Concordia BV.
The transaction will cost Paris-Orleans €446 million ($707.71 million), with payment made 50 per cent in shares and 50 per cent in cash.
Sir Evelyn will receive most of the cash, with the shares passed to his children.
The French cousins David and Eric de Rothschild are the two strongmen of the banking empire.
The former already oversees Rothschild's entire banking activities and he will be soon be at the head of the Paris Orleans holding company that groups the two branches.
Eric will remain president of the Paris Orleans supervisory board.
They will thus share the reins of an international group, active in mergers and acquisitions, as well as private asset management.
Article from: http://www.news.com.au/business/story/0,23636,22093795-31037,00.html
...and here comes the agenda of one world banking..f 'em all
Under the new structure, the two sides of the family will own shares in a holding company, FamilyCo, which in turn will own the French and English banks through an existing French vehicle called Paris-Orleans, listed on the Paris bourse.
Paris-Orleans will pay €446m (£300m) for a 50pc stake held by the English branch of the family in Concordia BV (after the family motto "concordia, integritas, industria"), a holding company created under an initial alliance in 2003.
Paris-Orleans already owns the other 50pc of Concordia. It will pay half the €446m in shares and half in cash to allow the 75-year-old head of the English branch, Sir Evelyn de Rothschild, to dispose of his €200m stake.
Sir Evelyn stepped down as chairman of the English bank four years ago when the two sides agreed to merge their businesses. At the time, French aristocrat Baron David de Rothschild, son of Guy de Rothschild, who died last month, became executive chairman of both the English and French banks, uniting them at an operational level.
Now they are to be united at shareholder level to "secure the unity and long-term independence of the banking group", said a statement released yesterday.
The move comes almost two centuries after the founder, Mayer Amschel Rothschild, a successful money lender in Frankfurt-am-Main, despatched four of his five sons to different European capitals to take advantage of the rise of capitalism and the growth of international trade.
Nathan was sent to London, where he founded NM Rothschild, and James to Paris, where Banque Rothschild was formed. Over the years, the two sides developed a friendly, and sometimes not so friendly, rivalry.
Legend has it that Nathan was with the Duke of Wellington at Waterloo when Napoleon was defeated and raced back to London to buy British government stock before news of victory spread. He had supplied Wellington with gold to finance the campaign. One hundred and ninety years later, the banks continue to thrive on both sides of the Channel, having survived political upheaval, the threat of larger predators and family strife.
Rothschild banking group unifies
From: news.com.au
The French and English branches of the fabled Rothschild banking family announced their unification overnight, ending a separation that dates from the 19th century.
Under an agreement announced overnight the two will unify their shareholdings under a single holding company, the French group Paris-Orleans.
Symbols of big money and finance, the Rothschild dynasty, which includes media personalities, amateurs of horse racing and owners of prestigious vineyards, is best known for its capital management activities.
The two branches were created at the beginning of the 19th century when the founder of the dynasty, Frankfurt-based Meyer Amschel, sent his sons on a mission throughout Europe to develop the bank he had created.
Mr Amschel was renamed Rothschild by his neighbours because of the red shield which adorned his house.
Of the four sons who left Germany, Nathan settled in London and founded NM Rothschild and Sons. Jacob Meyer, who was nicknamed James, settled for Paris.
Jacob Meyer's success was astounding. He in no time gained influence, largely thanks to his interest in high society life.
The success of the British branch was also spectacular. The son of Nathan, Lionel, in 1858 became the first Jewish member of the upper house of parliament, the House of Lords.
His descendant, Sir Evelyn, the former chief of the British branch who is now aged 75, had privileged relations with the former prime minister Margaret Thatcher.
A backer of the merger between the French and British branches, Sir Evelyn has passed responsibility over to his three children, Jessica, 33, Anthony, 30 and David 28, who all inherit a share in the new group.
Paris-Orleans is to buy the 50 per cent stake held by the English branch of the family in a holding company that controls the banking empire, Concordia BV.
The transaction will cost Paris-Orleans €446 million ($707.71 million), with payment made 50 per cent in shares and 50 per cent in cash.
Sir Evelyn will receive most of the cash, with the shares passed to his children.
The French cousins David and Eric de Rothschild are the two strongmen of the banking empire.
The former already oversees Rothschild's entire banking activities and he will be soon be at the head of the Paris Orleans holding company that groups the two branches.
Eric will remain president of the Paris Orleans supervisory board.
They will thus share the reins of an international group, active in mergers and acquisitions, as well as private asset management.
Article from: http://www.news.com.au/business/story/0,23636,22093795-31037,00.html
...and here comes the agenda of one world banking..f 'em all