- Legend Holdings Corporation has acquired 90% of the shares of Banque internationale à Luxembourg, for €1.5 billion. The Luxembourg state, which for the moment is keeping its 10% stake, can sell its shares for the same price paid today within three years, which amounts to €160 million. Precision Capital, the previous shareholder, indicated they had never had the intention to sell, but when they were approached by Legend, they agreed to talk.
- Paperjam had a closer look at the new shareholder, Legend Holdings. It is a Chinese financial conglomerate, dating back to 1984, and is also the majority shareholder of Lenovo, a Chinese multinational technology company.
- The state’s stake in Luxembourg banks is lucrative: the Luxembourg state received a total of €140 million dividends from its stakes in Bil, BGL BNP Paribas--which makes up 1% of the 2016 budget.
- Laurent Loschetter is to become chair of the public radio station 100,7. His mandate is for four years. Loschetter is the founder of Den Atelier and member of the board of Mudam.
- Camille Fohl, former chair of BNP Paribas in Germany, is to become chair of the state savings bank BCEE (Spuerkees). The decision has to be validated by the European Central Bank.
Bil has been bought to 90% by the Chinese multinational Legends Holdings Corporation Charles Caratini