Lenovo Founder Buys 89.936% of Banque Internationale à Luxembourg (BIL)
Legends Holdings Corp, has acquired Precision Capital’s 89.936% stake in Banque Internationale à Luxembourg (BIL), a leading universal banking group headquartered in Luxembourg. The Grand Duchy of Luxembourg will retain its 9.993% shareholding in BIL.
” Lenovo Founder buys 89.936% of Banque Internationale à Luxembourg “
Legend Holdings Corp is a Hong Kong- listed diversified investment group founded in 1984 by Liu Chuanzhi. It has assets of €43.92 billion, annual revenues in excess of €40 billion and close to 70,000 employees worldwide. Lenovo Group, one of its portfolio companies, was founded by Legend Holdings in 1984 and is now one of the world’s leading vendors of personal computers. Lenovo successfully acquired IBM’s global PC business in 2004, subsequently investing and growing the brand into a global leader.
Liu Chuanzhi, Founder and Chairman of Legend Holdings:
“This is an important and exciting strategic investment for Legend. Financial services is one of Legend Holdings’ key target industries. BIL’s asset scale, revenue and profit growth potential, and its business stability meet Legend’s pillar assets criteria. It affirms Legend’s target of investing in pillar assets.”
Luc Frieden, Chairman of BIL:
“We look forward to working with the Legend Holdings team to build on BIL’s tradition of excellence that dates back to 1856 as a strong, stable and innovative Luxembourg universal bank. While clients and staff will experience full continuity, we will also have an opportunity to further strengthen BIL’s exceptional place in the Luxembourg economy, while enhancing its European and international ambitions.”
Source: Official Press Release
About Banque Internationale à Luxembourg
Founded in 1856, Banque Internationale à Luxembourg (BIL) is the oldest multi-business bank in the Grand Duchy. It has always played an active role in the main stages of development of the Luxembourg economy. It currently operates in retail, private and corporate banking, as well as on financial markets. Employing more than 2,000 people, BIL is present in the financial centres of Luxembourg, Switzerland (since 1984), Denmark (since 2000), the Middle East (since 2005) and Sweden (since 2016).