BRUSSELS Oct 5 Franco-Belgian lender Dexia
said on Friday it had completed the sale of its
Luxembourg arm to Qatar's Precision Capital and the Luxembourg
state and would likely book a loss of 199 million euros ($258.8
million) as a result.
Dexia sold Banque Internationale a Luxembourg (BIL) for 730
million euros but had to pump 204 million euros into the unit
before the sale to cover some of the losses BIL incurred from
the transfer of its bond portfolio to Dexia.
Precision Capital, owned by Qatar's al-Thani royal family,
will own 90 percent of BIL, and Luxembourg the remaining 10
($1 = 0.7689 euros)
(Reporting By Philip Blenkinsop)