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Sources Say Lenovo Seeks to Sell 90% Stake in Luxembourg's Banque Internationale, Valuation Could Reach €2.5 Billion
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- DeepHorus
According to a Financial Times report on September 20, Legend Holdings is seeking to sell a 90% stake in Banque Internationale à Luxembourg (BIL). Initial bids are expected to be submitted around the end of this month, with a valuation possibly reaching €2.5 billion (approximately RMB 19.254 billion) or higher. People familiar with the matter revealed that Goldman Sachs will assist with the transaction.
Legend Holdings acquired Banque Internationale à Luxembourg from Precision Capital, the Qatari royal family's group, in 2017, at a valuation of approximately €1.6 billion (approximately RMB 12.323 billion). If the sale is completed smoothly, Legend Holdings will exit this European banking asset. Currently, European and Middle Eastern institutions have expressed preliminary interest in the bank.
As of the end of 2025, Banque Internationale à Luxembourg managed assets of approximately €50 billion (approximately RMB 385.081 billion), an increase of 7% year-on-year. The bank's net profit was €210 million (approximately RMB 1.617 billion), an increase of 24% year-on-year. Both the bank's asset scale and net profit achieved growth.
Reuters reported in March last year that Legend had hired bankers to study a sale plan. This time, with Goldman Sachs assisting, it indicates that the sale process has entered a substantive stage. However, the relevant negotiations are still in the early stages, and it is currently impossible to confirm whether a deal will ultimately be reached.
If the transaction is concluded at a valuation of €2.5 billion, Legend Holdings would gain an appreciation of approximately €900 million compared to the acquisition price. However, the transaction still faces uncertainties, and the final outcome remains to be seen. The market will closely watch the submission of initial bids.
Regarding the sale, Banque Internationale à Luxembourg and Goldman Sachs both declined to comment. As of the time of writing, Legend Holdings had not yet responded to requests for comment. The results of the initial bids will become a key node in subsequent negotiations.
