Qatar's royal family and Luxembourg are to buy Dexia's (DEXI.BR) private banking arm Banque Internationale Luxembourg for 730 million euros ($950 million), as part of the Franco-Belgian group's bailout plan.
"Precision Capital, a Qatari investment group, will acquire 90 percent of the stake, the remaining 10 percent will be acquired by the Grand Duchy of Luxembourg," Dexia said on Tuesday.
Luxembourg-based Precision Capital, owned by members of Qatar's al-Thani royal family, has previously invested in European banks, among them British lender Barclays (BARC.L) in an emergency fundraising three years ago.
"Precision Capital, a Qatari investment group, will acquire 90 percent of the stake, the remaining 10 percent will be acquired by the Grand Duchy of Luxembourg," Dexia said on Tuesday.
Luxembourg-based Precision Capital, owned by members of Qatar's al-Thani royal family, has previously invested in European banks, among them British lender Barclays (BARC.L) in an emergency fundraising three years ago.
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