The majority shareholder of Banque Internationale à Luxembourg (BIL), Chinese investment firm Legend Holdings, is reportedly considering selling its stake in the bank, with potential options including a full or partial sale, according to sources cited by Reuters.
According to news agency Reuters, citing two well-informed sources, the majority shareholder of BIL is considering selling its stake in the bank.
The Chinese investment holding company Legend Holdings currently owns 90% of the shares in Luxembourg’s private bank and is reportedly exploring various sale options. One possibility under consideration is selling the private banking and wealth management services separately. If a sale proceeds, BIL is estimated to be valued between €2.5 and €3 billion, according to one of the sources.
Neither Legend Holdings nor BIL have issued any statements regarding the report.
Meanwhile, Luxembourg’s Ministry of Finance has clarified that there are no plans to sell the government’s stake in BIL and has declined to comment on speculation from third parties.
