Nationalization
In the early 1970s the government of France began nationalizing a number of industries and after declaring nickel to be a vital market commodity, SLN's assets were nationalized in 1974 and placed under a new company, Société Metallurgique. The result left the Rothschild's SLN as a holding company with a fifty percent interest in Société Metallurgique.
When the Rothschild's bank was nationalized in 1981 by the socialist government of François Mitterrand, a discouraged Guy de Rothschild left France and moved temporarily to New York City. Following another change in government policy, in 1987 a new banking business was established by his son David who founded Rothschild & Cie Banque.
Read more about this topic: Guy De Rothschild, Banking and Business