Italy's Mediobanca is acquiring 66% stake in Paris-based corporate finance boutique Messier Maris & Associes in a move aimed at expanding into private banking.
The agreement increases Mediobanca's corporate and investment banking fee pool by about 30%, the company said in a statement.
Group fees will increase by about 8% from €622m of net commission income reported at the end of June last year, it added.
The operation strengthens Mediobanca's positioning in the French market, with a potentially positive impact on its corporate and investment banking division, according to the Italian bank.
Messier Maris & Associes was founded in 2003 by former Vilendi boss Jean-Marie Messier. The firm has now around 50 employees spread across Paris, London and New York.