M and A
Belgian Private Bank Buys into French Wealth Manager
Belgium-based Bank Degroof has taken a stake of 50 per cent in Aforge Finance, while the shareholders-founders of that group acquire a stake in Bank Degroof.
As a result Bank Degroof will be represented on the board of
directors of Aforge and vice versa. The operation also makes the
capital of Aforge Finance available to its executives. At Bank
Degroof executives and directors have nearly 60 per cent of the
share capital.
The two institutions want to offer clients a complete and
integrated service. They will also respond to
international development, especially in the US, India and
southeast Asia.
The transaction must still be approved by the French
regulator.
