REUTERS/Dado Ruvic/Illustration/File photoPARIS, Aug 3 (Reuters) - Rothschild & Co (ROTH.PA), the Paris-listed investment bank being taken private by its owners, reported on Thursday a 10% fall in first-half sales, driven by a plunge in dealmaking activity.
Rothschild said its first-half net income, group share, nearly halved from a year earlier to 128 million euros.
In a call with reporters, Managing Partner Francois Perol confirmed the investment bank expected net income to more than halve this year due to the sharp fall in dealmaking.
He said the consortium that seeks to take the company private already owned more than 80% of the shares following the buyout offer valuing Rothschild at 3.7 billion euros.
Concordia, the bank's controlling shareholder and holding company of the Rothschild family, was joined by three of France's wealthiest families in the take-private transaction.
Persons:
Dado Ruvic, Rothschild, Francois Perol, Mathieu Rosemain, Susan Fenton
Organizations:
Rothschild, REUTERS, Rothschild & Co, Global, Concordia, Thomson
Locations:
PARIS, Paris, dealmaking, Rothschild