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QIA Set To Buy Dexia’s Luxembourg Bank

Dexia Group’s Luxembourg retail banking division may be acquired by the Qatar Investment Authority.

Dexia Group’s Luxembourg retail banking division may be acquired by the Qatar Investment Authority, The Wall Street Journal reports. The Luxembourg government will hold a blocking minority stake in Dexia Banque Internationale a Luxembourg.

The sale is part of an effort to break up the Belgian group after Moody’s Investors Service cautioned that the bank’s dependence on wholesale funding threatened its stability. Dexia will also have to offload other units under the plan, including its asset management business and DenizBank, the Turkish retail bank.

Click here for the story from The Wall Street Journal.

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