Genel buy-out nets Rothschild $100m

FINANCIER Nat Rothschild is in line for a $214m payout after his cash shell Vallares signed a deal with Turkey’s Genel valuing the firm at $4bn (£2.5bn).

Vallares’ four founders are set to receive 6.67 per cent, or $286m worth, of the company’s share capital after the merger with Genel, in return for injecting a total £100m when the investment vehicle was formed.

Rothschild contributed 80 per cent of the founders’ share capital, and is now in line for a stake worth more than $228m – giving a profit of just under $100m once his original investment is taken into account.

Former BP boss Tony Howard and Julian Metherell, the former Goldman Sachs investment banker, both contributed eight per cent and are set to receive $22.9m of shares while Tom Daniel, a partner in Rothschild’s Vallar, is set for $11.44m.