Bank of China has extended the deadline for its acquisition of a 20 percent stake in French private bank LCF Edmond de Rothschild, according to reports in the Wall Street Journal.
Bank of China has extended the deadline for its acquisition of a 20 percent stake in French private bank LCF Edmond de Rothschild, according to reports in the Wall Street Journal.
The original deadline for the proposed EUR 236 million outlay by one of China’s largest banks has now been extended to March 31, said the paper, citing sources close to the deal.
The tie-up aims to help LCF Edmond de Rothschild expand overseas, and the two companies have said they will focus on private banking and asset management businesses in China, France and other strategically important regions.
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