Luxembourg’s finance minister could be about to formalise the sale of 90% of the shares in BIL to Chinese investment group Legend Holdings
Photo: Charles Caratini/archive
Luxembourg’s finance minister could be about to formalise the sale of 90% of the shares in BIL to Chinese investment group Legend Holdings, according to the Luxemburger Wort.
In an article published Thursday 31 August, the Luxembourg daily cited a source close to the matter saying that Pierre Gramegna would make it official on Friday afternoon.
The deal must still pass through the European Central Bank. The remaining 10% of shares in BIL, which are held by the Luxembourg state, are also expected to be discussed by ministers on Friday.
Legend Holdings started out 30 years ago as an IT firm, diversifying into different businesses before transforming into an international conglomerate. According to its website, today its mission is to serve the country and society by building “outstanding enterprises in multiple industries”. Click here to view a full history of the firm.