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Qatari royal family may exit BIL

The royal family members of Qatar, who hold a controlling stake in Banque Internationale a Luxembourg are considering selling the stake for consideration of around $1.5 billion, according to news reports. The investment vehicle of the royal family, Precision Capital, has considered the matter and is pursuing it, the reports suggested. The royal family members holding the stake includes former Qatari prime minister Sheikh Hamad bin Jassim bin Jabr Al Thani. Banque Internationale Luxeumbourg is a private bank. Precision Capital has already conducted initial discussions with potential buyers in this regard, the news reports said. The royal family members bought about 90% stake in the private bank in 2012 from Dexia as part of a bailout of the Franco-Belgian bank. The Luxembourg government bought the remaining 10%.

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