October 24, 2019 / 7:08 AM / 24 days ago

Rothschild strikes new deal in Britain with takeover of Livingstone

* Buys UK firm Livingstone, terms not disclosed

* Rothschild had also bought stake in Redburn in July

By Sudip Kar-Gupta and Matthieu Protard

PARIS, Oct 24 (Reuters) - Rothschild, the historic banking firm whose alumni include French President Emmanuel Macron, on Thursday struck its second British takeover deal in a few months, with the acquisition of boutique financial advisory firm Livingstone.

Rothschild’s takeover of Livingstone, which provides mergers and acquisitions services and financing advice to mid-sized British companies, follows its acquisition in July of a minority stake in equity research firm Redburn.

Rothschild has been looking to consolidate its position in the ultra-competitive London financial marketplace, while regulatory pressures have pushed smaller companies to consolidate with larger players.

“The acquisition of Livingstone in the UK provides a unique opportunity for us to establish a dedicated UK lower mid-market team, a segment of the market that we don’t actively participate in today,” said Rothschild managing partner Robert Leitão.

The financial terms of Rothschild’s takeover of Livingstone were not disclosed.

Founded by Mayer Amschel Rothschild in the 18th century, the Rothschild banking dynasty has worked on some of history’s biggest deals, including helping to finance Britain’s war with Napoleonic France. (Reporting by Sudip Kar-Gupta and Matthieu Protard; Editing by Clarence Fernandez)

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