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.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.