Three of the wealthiest families in France, including the owners of luxury brand Chanel, are making an investment in Rothschild & Co to help take the Paris-based bank private.

Besides the three families, comprising Dassault, Peugeot and Wertheimer, Italian health entrepreneur Giammaria Giuliani will invest in the deal, which offers €48 per Rothschild & Co share, valuing the bank at around €3.7bn.

Last week, Rothschild’s holding company Concordia revealed the offer price for around 61% of stock of Rothschild & Co.

Maurel family, shareholders in the investment bank after its earlier integration with their finance company, and other members of Rothschild family will also take part in the deal.

Addressing the reporters, Rothschild & Co managing partner Francois Perol said: “They share the same convictions toward development of a company like ours.

“These families all have relationships built on trust with the Rothschild family for different reasons.”

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Perol further noted that after the planned de-listing, Concordia will own nearly 55% of the bank’s capital, while the long-term investors and the bank’s partners will have approximately 35% and 10% shares, respectively.

The de-listing is expected to be completed by the end of August this year.

The investors supporting the deal will be locked in for around eight years.

According to Concordia, Rothschild & Co does not require capital from the stock markets any longer and hence there is no point in being a public listed firm.