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December 26, 2016updated 04 Apr 2017 1:19pm

UBS France to take over Banque Leonardo France

UBS France has agreed to acquire Banque Leonardo France, the French arm of Italy's Banca Leonardo, for an undisclosed sum.

By Verdict Staff

UBS France has agreed to acquire Banque Leonardo France, the French arm of Italy's Banca Leonardo, for an undisclosed sum.

As part of the deal, the companies will set up a joint venture under the name of La Maison de Gestion.

UBS will hold a majority stake in the joint venture company, which will have about €4bn in assets under management.

The minority stakeholders of the new company include the La Maison investors club, the Dassault family of France, Michel David-Weill.

Banca Leonardo was founded in Milan in 1999. The company was acquired in 2006 and recapitalised by a group of European investors coordinated by Gerardo Braggiotti.

 

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