22nd Jun 2005 07:15
Jardine Strategic Hldgs Ld22 June 2005 Press Release Jardine Strategic Holdings Ltd acquires interest in Rothschilds Continuation Holdings AG 22 June 2005: Jardine Strategic Holdings Limited ("Jardine Strategic") andRothschilds Continuation Holdings AG ("RCH") today announced that JardineStrategic has agreed to purchase from Royal & Sun Alliance Insurance plc a 20%shareholding in RCH for US$185 million, subject to regulatory consents. RCH is a major holding company within the Rothschild Group and, together withRothschild & Cie Banque in France, owns the Rothschild international bankingbusiness. RCH is the parent company of N M Rothschild & Sons Limited. Inaddition to its core investment banking business, the Rothschild Group isinvolved in commercial banking, private banking and in the private equitysector. Jardine Strategic's investment in RCH is in line with its policy of takingsignificant stakes in multinational businesses, and supporting theirdevelopment. Jardine Strategic is investing in RCH for the long-term andintends to utilise its knowledge and network of relationships in Asia to promoteRCH's growth in the region. Jardine will have two representatives on the Boardof RCH. Jardine Strategic will be the only non-Rothschild shareholder in RCH. For theirpart the Rothschild Family are committed to RCH remaining independent and undertheir control. David de Rothschild, Chairman of RCH, commented, "Royal & Sun Alliance has beenclosely aligned with the Rothschild Group since my ancestors sponsored one ofits predecessor businesses in the 19th century. I appreciate that today itspolicy is to focus on general insurance and that it wishes to dispose ofnon-core investments. I welcome Jardine's investment and look forward to building a long andsuccessful relationship." Henry Keswick, Chairman of the Jardine Matheson Group, said, "Rothschild'sindependence and clear business focus has created a banking model which clientsare finding increasingly attractive. In making this strategic investment ourGroup is renewing a relationship that began in 1838 when we first acted asagents for Rothschild in China. We look forward to being a supportiveshareholder and assisting in Rothschild's development." Notes to editors Rothschild The Rothschild banking group has offices in more than 30 countries and employssome 2,000 people around the world. Through its network of subsidiaries andaffiliates, the Group provides banking, treasury, investment banking, fundmanagement, private banking and trust management services to governments,corporations and individuals worldwide. Jardine Strategic Jardine Strategic is a holding company within the Jardine Matheson Group whichmakes long-term strategic investments in multinational businesses, particularlythose with an Asian focus, and in other high quality companies with existing orpotential links with the Group. Its principal attributable interests are inJardine Matheson (53 per cent), Dairy Farm (78 per cent), Hongkong Land (43 percent), Mandarin Oriental (75 per cent) and Jardine Cycle & Carriage (61 percent). Enquiries: Rothschild Continuation Holdings AGJohn Antcliffe (Smithfield Consultants) 020 7360 4900 Jardine Strategic Holdings LimitedRichard Hews (Weber Shandwick) 020 7067 0728 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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