Lenovo Owner Completes Purchase of 89.93% of Banque Internationale à Luxembourg for $1.76 Billion
Legend Holdings, a HK listed company and founded by Lenovo owner Li Chuan Zhi, has completed purchase of 89.93% of Banque Internationale à Luxembourg (BIL), a leading universal banking group headquartered in Luxembourg. The announcement to acquire the Luxembourg bank was made in September 2017, and is the completed after receiving regulatory approval from the Commission de Surveillance du Secteur Financier (CSSF) and the European Central Bank (ECB) for the acquisition of Precision Capital’s 89.936% stake in Banque Internationale à Luxembourg (BIL). The minority share of 9.993% is owned by Grand Duchy of Luxembourg.
” Lenovo Owner Completes Purchase 89.93% of Banque Internationale à Luxembourg for $1.76 Billion “
Banque Internationale à Luxembourg (BIL) have total assets of €23 billion and assets under management of €37.7 billion. Legend Holdings is founded in 1984 by Liu Chuan Zhi as Legends Computer, and is a leading diversified investment group today, with €43.92 billion of assets, annual revenues in excess of €40 billion and close to 70,000 employees worldwide. In 2004, the company changed the English name to Lenovo and successfully acquired IBM’s global PC business in 2004, growing the brand into a global leader.
Liu Chuan Zhi is a multi-billionaire and his daughter is Jean Liu, the President of Didi Chuxing, China’s largest ride-hailing company.
About Legend Holdings
Legend Holdings is a leading large investment group in China. The company has built an innovative business model of both strategic and financial investments. Through strategic investments, the company invests in segments including IT, financial services, innovative consumer services, and agriculture & food. The company’s financial investments business primarily consists of angel investments, venture capital and private equity across all stages of a company’s life cycle.
Over the past 33 years, under the leadership of the company’s Founder and Chairman, Liu Chuanzhi, and President, Zhu Linan, the company has capitalized on its understanding of China’s key development themes, complementary investment businesses and extensive management expertise to cultivate a number of outstanding and influential enterprises in China and overseas. By promoting business alignment and consolidation, and continuously optimizing its investment portfolio, the Company realizes sustainable growth in its corporate value.
Visit: Legend Holdings
About Banque Internationale à Luxembourg (BIL)
Founded in 1856, Banque Internationale à Luxembourg (BIL) is the oldest multi-business bank in the Grand Duchy. It has always played an active role in the main stages of development of the Luxembourg economy. It currently operates in retail, private and corporate banking, as well as on financial markets. Employing more than 2,000 people, BIL is present in the financial centres of Luxembourg, Switzerland (since 1984), Denmark (since 2000), the Middle East (since 2005) and Sweden (since 2016).
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