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Chinese firm buys 90% stake in Luxembourg-based private bank

Legend Holdings, a Beijing-based investment group, has agreed to acquire an 89.93% stake in European private bank Banque Internationale à Luxembourg (BIL) via its subsidiary in Hong Kong, the company said in a statement on Saturday. The transaction sees Legend Holdings – best known for one of its portfolio companies, Lenovo Group – acquiring the BIL stake owned by Precision…

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