keywords: banque internationale, bank finance luxembourg, legend group, luxembourg.
For months, close persons with the matter have informed the press (Bloomberg and Washington Post) that the Chinese holding company Legend Holdings Corporation (owner of Lenovo) has bought 90% of the Banque Internationale à Luxembourg (BIL), it is now the Minister of Finance in person who confirms the information.
While the amoun of the transaction has not yet been disclosed, Minister Gramegna also specifies in a statement on Friday that BIL being a systemic bank the transaction will have to be endorsed by the European Central Bank (ECB). The purchaser undertakes no social plan within three years of the takeover and its headquarter will remain in Luxembourg.
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