Chinese conglomerate Fosun International has offered to acquire German private bank Hauck & Aufhäuser Privatbankiers KGaA (H&A) for EUR210m ($231m), to expand its services in Europe.
The proposed offer has been accepted by H&A shareholders, who hold about 80% of the share capital in the German bank.
Go deeper with GlobalData
Fosun’s wholly-owned subsidiary Fosun Industrial will acquire all shares in H & A at a price of EUR682.50 per share.
Fosun said the deal will enhance its capabilities of providing financial services in Europe in the areas of private banking asset management, financial markets and fund custody services.
The purchase is subject to approval by the authorities in Germany, Luxembourg, Liechtenstein and Switzerland.
As of 31 December 2014, H&A managed total assets and net assets worth about EUR3.02bn and EUR173.m respectively.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
