HONG KONG, Sept 1 (Reuters) - China’s Legend Holdings struck a deal on Friday to buy a 90 percent stake in Banque Internationale a Luxembourg (BIL) from Qatar’s royal family for 1.48 billion euros ($1.76 billion), marking its biggest overseas acquisition.
Legend, owner of computer group Lenovo Group Ltd, is acquiring 161-year-old BIL from Precision Capital, an investment vehicle of Qatar royal family members including former Qatari Prime Minister Sheikh Hamad bin Jassim al-Thani.
The purchase is being done through its Hong Kong subsidiary, Beyond Leap Limited, Legend said in a statement. Reuters in July first reported Legend was in talks with Precision on a potential acquisition of BIL.
$1 = 0.8398 euros Reporting by Julie Zhu; Editing by Muralikumar Anantharaman and Adrian Croft