April 10, 2019 / 9:36 PM / 13 days ago

Mediobanca to unveil purchase of French Messier Maris on Thursday: source

MILAN (Reuters) - Italian investment bank Mediobanca will announce on Thursday the acquisition of a 66 percent stake in French merchant bank Messier Maris & Associes as it seeks to expand into private banking, a source close to the situation said.

The source did not disclose the financial details of the deal. Newspaper reports have given a valuation for the whole of the French merchant bank at 160 million euros ($180.4 million).

Set up by Jean-Marie Messier and Erik Maris at the end of 2010, Messier Maris & Associes has a team of about 50 staff spread across Paris, New York and London.

Reporting by Gianluca Semeraro; editing by Silvia Aloisi

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