The State will remain a shareholder in BIL and will not sell its shares in the bank. Finance Minister Gilles Roth confirmed as much to RTL on request, following a report in the Financial Times that Chinese group Legend Holdings had put its stake up for sale.
According to the report, Legend Holdings has appointed Goldman Sachs to handle the sale of its 90% holding in a transaction that would put a value of €2.5 billion on the bank.
The Finance Minister declined to comment on the Financial Times article itself. Roth did, however, note that BIL was a systemically important bank in the country, and that the State therefore stood squarely behind the institution.
