Monday, July 23, 2007

Rothschild dynasty unites after 190 years
By Sophie Brodie 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.

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