BANKS LUXEMBOURG – BIL OFFICIALLY BOUGHT BY CHINESE GROUP

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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…

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FINANCIAL SECURITY – BIL TO BE BOUGHT BY CHINESE GROUP

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keywords: banque internationale à luxembourg, qatar, legend group, luxembourg. According to the Washington Post and Reuters a person close to the matter told them that the Banque Internationale à Luxembourg (BIL) is about to be bought by the Legend Group, a Chinese giant that owns Lenovo Group. The price of BIL bank would be between 1 billion and 1.5 billion euro. The Qatari owner was considering a price close to 1.5 billion euro at the time of the sale consideration announcement. BIL is a systemic bank for the Luxembourg economy….

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BANKS – NO CONCRETE OFFER TO BUY BIL SAYS MINISTER

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keywords: finance, bank, financial security, systemic risk, bil, luxembourg. Since the revelation by Bloomberg last week of the possible sale of Banque Internationale à Luxembourg (BIL) by its Qatari majority shareholder, rumors are going on about the future of this pillar of the Luxembourg economy. To the point that the national representation questions the Minister of Finance Pierre Gramegna. The Minister declared on Friday, May 5, that to his knowledge no offer to buy was made on BIL (and in particular the state share) and that in case of shareholder…

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