Experience

Dexia in the €730 Million Sale of Dexia Banque Internationale à Luxembourg

December 20, 2011

Cleary Gottlieb is representing long-standing client Dexia in the sale of Dexia Banque Internationale à Luxembourg to Precision Capital and the State of the Grand Duchy of Luxembourg.

Precision Capital, a Qatari investment group, will acquire 90% of the stake and the remaining 10% will be acquired by the Grand Duchy of Luxembourg for a total consideration of €730 million.

The sale of Dexia Banque Internationale à Luxembourg is one of the steps of the restructuring plan of the Dexia group as announced on October 10, 2011.

Cleary Gottlieb is lead counsel in the entire restructuring and dismantling plan of Dexia, as well as in the new state guarantees granted by the Belgian, French and Luxembourg states, including in their contractual, regulatory and EU state aid aspects.