The former star of Lazard in Italy, Gerardo Braggiotti, aggressively. A year after having slammed the door of Lazard, and a few months after regaining Banca Leonardo, the banker of business Italian will buy Toulouse & Associés, which is a "boutique" French, that is an independent Council structure. With aims to create a European size business bank.
Together, Gerardo Braggiotti and Jean-Baptiste Toulouse, the founder of the French boutique, are indeed compete with front, on the old Continent, Lazard and Rothschild, the prestigious two banks specialized in the Council in mergers and acquisitions.
Compete with the big
Although Gerardo Braggiotti defended yesterday to "take revenge with Lazard", during a press conference in Paris. "It is clear that we are going more to compete with large shops traditional Lazard and Rothschild as Goldman Sachs", acknowledged, he Jean-Baptiste Toulouse.
Banca Leonardo will buy, for an amount not disclosed and securities, 100 of the capital of Toulouse & partners only. The partners of the latter will become shareholder in Banca Leonardo, at height of a few percent.
"We wanted to position us on the European market, but we would have been difficult to do alone," explained Jean-Baptiste Toulouse.
"We hope now to create a whole European." "We believe that there is room for an independent business bank in continental Europe," said Gerardo Braggiotti. A new bank next to the large international houses such as Goldman Sachs and JP Morgan, involved also in the financial markets, which has conflict of interest, he said. This would not be the case of the whole from the approximation with Toulouse & Associates, which specializes in the Council. Banca Leonardo has a "private equity" investment activity, but the latter is carried out in a joint venture with Eurazeo Investment Corporation, one of the major shareholders of Banca Leonardo, and relates only to the Italy, argues Gerardo Braggiotti.
To an introduction on the stock exchange
The structure, resulting rapprochement with Toulouse & Associés, will have a new name once buckled operation, will have 25 to 30 bankers. It will operate as a single entity, in the countries where it is already present, France, Italy, and in the Benelux. "We want then develop first in Spain, then Germany and Switzerland," explained the Italian financier. A term, i.e. five years here, an introduction on the stock exchange is being considered.
Banca Leonardo took over in April by Gerardo Braggiotti, who transformed it in Investment Bank, after have recapitalised it at height of 780 million euros, using particular Eurazeo, NOC and Ifil. After eighteen years at Mediobanca and seven years at Lazard, Gerardo Braggiotti left in July 2005, after its entry in the stock market.
For its part, Toulouse & Associates was established in 2000. He currently advises Suez on its rapprochement with GDF project, after having worked on the OPA on Electrabel last year. This year, he also handled the transfer of the PagesJaunes of France Telecom.
He has among his key Associates Jean Peyrelevade, former CEO of Credit Lyonnais which will become President of the new together in France activities and Didier Izabel, a veteran of the company Financière Edmond de Rothschild. His boss, Jean-Baptiste Toulouse will be "head of european investment banking" of the new group.
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