Corient (CORN) to acquire Letus Private Office for €4.1bn

AI Summary

Corient (CORN) has reached an agreement to acquire Letus Private Office, a multi-family office in France, for approximately €4.1 billion ($5 billion). Letus focuses on ultra-high-net-worth clients and offers services including investment management and estate planning. Following the acquisition, the principals of Letus will become partners at Corient. This deal complements Corient's earlier acquisitions in 2023, which included firms like Stonehage Fleming and Stanhope Capital Group, enhancing its presence across Europe, the Middle East, and Africa.