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China Company in Talks to Buy Stake in Banque Internationale a Luxembourg (BIL)

China Company in Talks to Buy Stake in Banque Internationale a Luxembourg (BIL)

China’s Legend Holdings Corp is in talks to invest in Banque Internationale a Luxembourg (BIL). Legend, owner of computer group Lenovo Group Ltd, has been in discussions to buy around 90 percent of the private bank from Precision Capital, an investment vehicle of Qatar royal family. BIL is expected to fetch a price of 1-1.5 billion euros.

“BIL is expected to fetch a price of 1-1.5 billion euros.”

~ Reuters

The deal will most likely be finalised in the coming weeks and Legend is not looking to buy the remaining 10 percent of BIL which is owned by the Luxembourg government.

Related Reports: Reuters, CNBC

 

About Legend Holdings 

Legend Holdings Corporation (hereinafter referred to as “Legend Holdings”) was founded in 1984 by Liu Chuanzhi and 10 other researchers with funding from the Computing Institute of the Chinese Academy of Sciences. Starting from the IT industry, Legend Holdings has gone through the development of over three decades, and now it is a leading diversified investment group in China. It builds up a unique business model of “strategic investments + financial investments” with synergy between the two-wheel-drive businesses. Through value creation and value discovery, the Company cultivates and manages an outstanding investment portfolio with growth potential, driving sustainable value growth.

Visit: Legend Holdings


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