The Belgian government will officially begin its search for an investor to acquire a 20 percent stake in state-owned bank Belfius, formerly Dexia Belgium, starting this Monday.
This move follows the government’s approval late last year to sell part of its holdings in the bank, which has been fully state-owned since 2011.
The sale is expected to generate up to 2 billion euros for the state treasury. According to Belgian media, potential buyers include European investor CVC – listed on the Amsterdam stock exchange – as well as Rabobank and ING.
Belfius was created in 2011 after the dismantling of the troubled Dexia Group during the financial crisis. The Belgian state acquired the bank at the time for 4 billion euros.
