BRUSSELS Jan 7 Franco-Belgian financial group
Dexia said on Tuesday it had agreed to sell its 40
percent stake in private bank Popular Banca Privada to its joint
venture partner Banco Popular for 49.2 million euros
Dexia has been stripped of all its activities, including
public sector lending and retail banking, after it failed to
recover from the 2007-2008 credit crunch and was bailed out by
Belgium, France and Luxembourg.
The agreement to sell Popular Banca Privada completes the
disposal process for the group, which is now little more than
the sum of the bonds and loans it has outstanding.
Dexia said it expected the transaction to close in the first
quarter of the year.
($1 = 0.7330 euros)
(Reporting by Robert-Jan Bartunek; editing by Barbara Lewis)