RHJI Will Pay $487M For Deutsche Bank's BHF-Bank

Law360, New York (October 30, 2013, 12:19 PM EDT) -- Brussels-based RHJ International SA and its subsidiary Kleinwort Benson Group Ltd. will buy BHF-Bank from Deutsche Bank for €354 million ($487 million), RHJI announced Wednesday after BlackRock Investment Management LLC, one of the original co-investors, decided to withdraw from the transaction.

Under the terms of the deal, Kleinwort Benson will acquire 91 percent of BHF for €322 million ($443 million) in cash, and RHJI will acquire the remaining 9 percent stake by issuing RHJI shares to Deutsche Bank at par value.

Kleinwort Benson and RHJ International...
To view the full article, register now.