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Concordia said it bought 8.18 million shares of Rothschild at 46.60 euros per share.
The opening of an offer to delist the bank will take place following a clearance decision from the French market regulator AMF. The Rothschild family said in February it was seeking to take the bank private.
Rothschild in May posted a 10% drop in first-quarter sales, as global mergers and acquisition activity fell to the lowest level in more than a decade.
The bank, led by Alexandre de Rothschild, said total group revenue over the first three months of 2023 fell to 606.2 million euros ($667.30 million) from 675.3 million euros in 2022.
