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

By Reuters

PARIS – Financial services company ODDOBHF 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.

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.

“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.

ODDOBHF is an independent Franco-German financial services group, and the company says it has more than 125 billion euros of assets under management.

($1 = 0.8818 euros)