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Market Chatter: Legend Holdings Launches Sale of 90% Stake in Luxembourg Bank BIL

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Legend Holdings (HKG:3396) has started seeking buyers for its 90% stake in Banque Internationale à Luxembourg, the Financial Times reported.

Goldman Sachs is advising on the sale, with initial bids due by the end of September. The lender could be valued at about 2.5 billion euros or more, according to the report.

Interest from European and Middle Eastern institutions is in its early stages, while some potential buyers may be interested only in parts of the business. There is no certainty a deal will be reached, the FT reported.

Banque Internationale à Luxembourg and Goldman Sachs did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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