RHJ says German regulator to give decision on BHF purchase by end of September

By IVCPOST Staff Reporter

Aug 29, 2013 08:10 AM EDT

RHJ International said that German Federal Financial Supervisory Authority (BaFin) would most likely give its decision to approve or deny its planned purchase of BHF-Bank by the end of next month. BHF-Bank is a unit of Deutsche Bank, of which RHJ had placed a buyout bid for EUR 384 million or USD 509 million.The holding company based in Brussels had been in talks with Deutsche Bank for more than two years for the acquisition of BHF-Bank. The sale agreement, however, was only reached in September of last year.

According to the website of the German regulator, it had already started a "material review" of the documents submitted by RHJ and its co-investors. All of the firms included in the RHJ International buyout consortium except one had already given the required filings.

RHJ International had earlier said that it would consider returning the capital to its shareholders if the transaction would not push through. RHJ said "[It] will consult with shareholders on the timing, mechanism and quantum of a proposed capital return."

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