“The KBC group has reached an agreement with Precision Capital for the sale of its dedicated private banking subsidiary KBL European Private Bankers for a total consideration of EUR 1.05 billion, EUR 50 million of which depend on the results of KBL,” the bank said in a statement.
Monday 10 October 2011
Business : Qatar to acquire Luxembourg’s KBL bank for 1b euros
Belgian bank KBC announced on Monday it agreed to sell its Luxembourg unit KBL to Qatar’s state-owned investment group Precision Capital for 1.05 billion euros ($1.41 billion).
“The KBC group has reached an agreement with Precision Capital for the sale of its dedicated private banking subsidiary KBL European Private Bankers for a total consideration of EUR 1.05 billion, EUR 50 million of which depend on the results of KBL,” the bank said in a statement.
“The KBC group has reached an agreement with Precision Capital for the sale of its dedicated private banking subsidiary KBL European Private Bankers for a total consideration of EUR 1.05 billion, EUR 50 million of which depend on the results of KBL,” the bank said in a statement.
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