Macquarie Makes European Investment Banking Acquisition

Post by Sharat on February 5, 2010 · Under Business News, Company News, International Business News, Mergers & Acquistions, banking, news · Comment

Australian investment banking major Macquarie Group has acquired the research and investment banking operations of Luxembourg based private bank Sal Oppenheim.
Macquarie had recently acquired the private bank’s derivatives business in December last year.

Macquarie has embarked on an ambitious acquisition based expansion of its investment banking business in both Europe and the US.

The deal will vest in the second quarter, and is subject to regulatory approvals. Neither party disclosed any financial details of the transaction.

Sal Oppenheim’s divestment of its derivatives unit was driven in large part by the entire company being acquired by Deutsche Bank. Its investment banking operations include research, equity sales and trading, with a focus on continental Europe.

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