MarketWatch: Belgian bank to buy Kleinwort Benson - Spear's Magazine

MarketWatch: Belgian bank to buy Kleinwort Benson

FRANKFURT (MarketWatch) — RHJ International SA, a Belgium-based diversified investment holding company, said Thursday that it’s agreed to buy Kleinwort Benson’s private banking, wealth management and fiduciary businesses from Commerzbank AG for 225 million British pounds in cash.

FRANKFURT (MarketWatch) — RHJ International SA, a Belgium-based diversified investment holding company, said Thursday that it’s agreed to buy Kleinwort Benson’s private banking, wealth management and fiduciary businesses from Commerzbank AG for 225 million British pounds in cash.

RHJ International will acquire Kleinwort Benson Private Bank Limited and Kleinwort Benson Channel Islands Holdings Limited, which together had total assets under management of 5.4 billion British pounds as of the end of last year. The transaction, which is expected to be completed in the first quarter of 2010, is subject to regulatory clearances.

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