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’RHJ to buy Kleinwort for £225m
Kleinwort Benson, one of the oldest names in British banking, is to be sold by Commerzbank to RHJ International, a Brussels-listed financial investor, for £225m in cash. The deal caps a long search by RHJ for a European banking business and reunites its CEO Leonhard Fischer with part of Dresdner Bank,
The return of merchant banking
Kleinwort Benson, one of the City of London’s oldest and venerable names has a new owner — a Belgian industrial holding company.
But please bear with us because this could be interesting.
The buyer is RHJ Holdings,
Snap news
Breaking pre-market news on Thursday,
- Xstrata says it has no intention of making an offer for Anglo American – statement.
- Anheuser-Busch InBev agrees to sell central European operations to CVC for $2.2bn – statement.
Close Brothers moves in on Kleinwort
Close Brothers, the UK-based investment bank, has emerged as a bidder for Kleinwort Benson, the private bank that has been put up for sale by Germany’s Commerzbank. Close Brothers is understood to be among the potential buyers to reach the second round of the auction process.