Chinese conglomerate Fosun International joins a list of suitors considering bids for German private bank Bankhaus Lampe.
Additional suitors include Dutch lender ABN Amro and Franco-German financial group Oddo, according to a «Bloomberg» report citing anonymous sources, which placed Bankhaus Lampe’s value at 200 million euros ($223 million) or above. A spokesperson for the Oetker family, the controlling shareholder of Bankhaus Lampe, confirmed that options, including a sale, were being evaluated.
Sources also added that KPMG is currently advising the Oetker family, the controlling shareholder, on the potential sale of Bankhaus Lampe.
Second German Wealth Manager?
Bosun has shown a penchant for German wealth managers and a successful Bankhaus Lampe acquisition would mark the second such purchase since it bought Hauck & Aufhaeuser Privatbankiers in 2016. There is reportedly no certainty that the current suitors will proceed with firm offers.
Bankhaus Lampe, founded in 1852, posted 2018 profits of $16.6 million, down less than 1 percent year-on-year. Assets under management at the German bank fell 15 percent to $21.6 billion.
