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Legend Holdings Sells Luxembourg Bank

21 Sep

Summary

Legend Holdings plans to sell its 90% stake in BIL.
First-round offers expected by month-end, valuing BIL at €2.5bn.
BIL, established in 1856, manages €50bn in assets.

Legend Holdings, a significant Chinese investment group, has commenced a process to divest its 90% ownership of Banque Internationale à Luxembourg (BIL). The Hong Kong-listed entity is collaborating with Goldman Sachs for this planned sale, with initial bids expected by the conclusion of this month.

These early offers could value the Luxembourg-based bank at approximately €2.5 billion ($2.8 billion) or more. Interest has reportedly surfaced from financial institutions within Europe and the Middle East, though discussions remain in their nascent stages. It is also noted that some interested parties might only pursue specific segments of BIL's operations.

Legend Holdings originally acquired BIL in 2017 from Qatari owners for €1.6 billion. Established in 1856, BIL offers services including wealth management and corporate banking, holding around €50 billion in assets under management at the close of 2025. The Luxembourg state continues to hold a 10% stake in the financial institution.

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