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Rothschild finance company says Bank of China buys stake

by Staff Writers
 Paris (AFP) Sept 18, 2008
 Bank of China has taken a one-fifth share in the Edmond de Rothschild Finance Company for 236 million euros (342 million dollars), a spokesman for the European banking group told AFP on Thursday.

Bank of China, one of the four major Chinese banks, also acquired a further 10 percent stake through the issue of new shares in the Rothschild wealth management company.

Rothschild's French holding firm, the Saint-Honore Finance Company, will retain a majority stake, the spokesman said.

He said the new move would "open up the whole Bank of China network."

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