(Bloomberg) -- Benjamin de Rothschild’s family plans to take its Swiss bank private as it simplifies the group’s legal structure and prepares it for expansion, which may include acquisitions.

The family plans to buy all publicly held Edmond de Rothschild (Suisse) bearer shares at 17,945 francs a share and to delist the company from the Zurich stock market, the group said in a statement. Under the proposed transaction, its French operations will be consolidated into Edmond de Rothschild (Suisse), with Vincent Taupin promoted to the role of chief executive officer.

“I was named Chairwoman of the Executive Committee of the Edmond de Rothschild Group in January 2015 with the objective of creating a sound and united banking group, benefiting from a unique and distinctive brand name, with a clear vision and a robust balance sheet,” Ariane de Rothschild, president of the group’s executive committee, said in the statement.

Based on 50,000 outstanding shares in Edmond de Rothschild (Suisse) SA, the transaction would be valued at around 897.3 million francs ($890 million), according to Bloomberg calculations.

The group’s range of non-financial activities -- from wine estates in France, Spain, South Africa, New Zealand and Argentina, to luxury hotels and agriculture, including a farm close to Paris that makes cheese -- is grouped under Edmond de Rothschild Heritage.

Edmond de Rothschild (Suisse) SA had net income of 222 million francs last year, helped by non-recurring gains, while its operating result was 120 million.

By taking it private , “we are demonstrating our commitment to our banking group and our ambitions for growth, both organic and through acquisitions,” Benjamin de Rothschild, chairman of Edmond de Rothschild Holding’s board of directors, said in the statement.

To contact the reporter on this story: Albertina Torsoli in Geneva at atorsoli@bloomberg.net

To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net, Jan Dahinten

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