Rothschild family holding company Concordia announced it has acquired all the shares it was permitted to buy in Rothschild & Co.
This was prior to the Concordia’s plans to open an offer to take the Paris Stock Exchange-listed company private.
Concordia said it bought 8.18 million shares of Rothschild at €46.60 (£39.78, $50.69) per share.
The opening of an offer to delist the financial services giant will take place following a clearance decision from the French market regulator AMF.
The Rothschild family said in February it was seeking to take the bank private.
The financial services giant has three different arms – global advisory, wealth and asset management, and merchant banking.
