Luxembourg Bank: Breakup Proposals for Dexia Begin to Emerge

NYT details the story well. Except that it seems to be a given that the buyer is the Qatar Sovereign Fund. The transaction would then have to be seen in the context of a global agreement that also awarded 35% of Cargolux to Qatar Airlines for $117.50 million, a bargain.

The price sticker on DEXIA BIL Luxembourg seems to be another bargain at Euros 900 million. The Luxembourg State seems to become a smaller shareholder. The Luxembourg Government just perpetuates its tendency to shore up failing companies with good (taxpayer) money.

Path to NYT:

http://dealbook.nytimes.com/2011/10/06/dexia-in-discussions-to-sell-luxembourg-unit/