Legend Holdings Begins Sale Process for Banque Internationale à Luxembourg
Legend Holdings has initiated the sale of its 90% stake in Banque Internationale à Luxembourg (BIL), according to a report by Financial Times. The Hong Kong-listed company, which also holds shares in Lenovo, is working with Goldman Sachs on the disposal process and expects first-round bids by month-end. Potential bidders include European and Middle Eastern financial institutions, though no agreement has been finalized. Legend acquired BIL from its Qatari owners for €1.6 billion in 2017. The bank operates across wealth management and corporate banking with approximately €50 billion in assets under management as of the end of 2025. Luxembourg retains a 10% stake, while Legend's planned exit aligns with broader trends of Chinese investors divesting European financial holdings. The potential valuation for BIL is estimated at around €2.5 billion or more, reflecting its strong performance and strategic appeal to banks seeking expansion in wealth management services.
Topics: banking chinese investment corporate banking luxembourg wealth management