Rothschild's long-term connections with Anglo American, the London listed mining group, have paid off for the bank, which is now advising Mondi, Anglo American's forest products subsidiary, on a proposed €298m ($269m) acquisition.

Mondi has made several acquisitions over the past decade, but according to Peter Oswald, chief executive of Mondi Packaging Europe, the group has rarely turned to investment banks for advice. Oswald said that it was necessary to use an adviser this time around because the target, La Rochette of France, is a listed company.