KBC Groupe SA Closes KBL European Private Bankers Sale To Precision Capital
KBC Groupe SA ("KBC") announced that it has finalized the sale, announced on October 10, 2011, of its private banking subsidiary KBL European Private Bankers (“KBL epb”) to Precision Capital S.A. ("Precision Capital") for a total consideration of approximately EUR 1 billion. The sale is expected to release a substantial amount of capital (approximately EUR 0.7 billion) for KBC, increasing its tier-1 ratio by 0.7 %.
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