First-round offers for the bank are expected by the end of September. If successful, the transaction marks a significant exit for Legend Holdings, which originally purchased the lender from Qatari owners in 2017 in a deal valued at €1.6 billion. The Luxembourg state maintains a 10 percent shareholding in the institution, which remains a systemically important entity under European Central Bank oversight.
Legend Holdings Initiates Sale Process for Banque Internationale à Luxembourg
Ten years after acquiring Banque Internationale à Luxembourg, Hong Kong-listed Legend Holdings is moving to divest its 90 percent stake in the historic lender. The Chinese conglomerate has reportedly engaged Goldman Sachs to manage the sale, which could value the Luxembourg-based institution at approximately €2.5 billion.
Industry analysts suggest the timing reflects a strategic pivot. Ray Soudah, founder of MilleniumAssociates, noted that current market valuations are attractive for potential integration partners, particularly as standalone ownership by non-financial institutions faces increasing pressure. BIL, founded in 1856, continues to operate a service network linking China, Luxembourg, and Switzerland, holding A- and A2 ratings from S&P and Moody’s, respectively. Neither Legend Holdings nor BIL representatives have provided formal confirmation regarding the sale process.
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