Financial company ODDO BHF in talks to buy Paris-based Quilvest Banque Privee

By Reuters

<div> <p><span class="caps">PARIS</span> – Financial services company <span class="caps">ODDO</span> <span class="caps">BHF</span> is in talks to buy Paris-based Quilvest Banque Privee, which manages around 2 billion euros ($2.3 billion) in assets, the companies said on Thursday.</p> <p>The takeover talks for Quilvest Banque Privee come as the private banking sector’s smaller players seek mergers or acquisitions to compete with their bigger rivals.</p> <p>“This merger is a response to Quilvest Banque Privee’s desire to join forces with a family-owned financial group that represents one of the most successful companies on the Paris stock exchange and embodies a rare dynamism in the European landscape,” said Quilvest Banque Privee president Eric Libault.</p> <p><span class="caps">ODDO</span> <span class="caps">BHF</span> is an independent Franco-German financial services group, and the company says it has more than 125 billion euros of assets under management.</p> <p>($1 = 0.8818 euros)</p> <p/> </div>