Approval was given for Legend Holdings to purchase Precision Capital’s 90% stake in Bil, while the Luxembourg state holds the remaining 10% ownership. The transaction, which was announced in September 2017 is now complete.

According to Hugues Delcourt, BIL CEO:

“We will continue to reinforce the bank’s position in our existing markets…At the same time, Legend Holdings’ extensive networks and significant experience in financial technology, artificial intelligence and big data will further support our ambitions.”