Qatari investor snaps up Dexia wealth arm

Qatari investment group Precision Capital has agreed to buy a 90% stake in Dexia’s private banking unit, in its second acquisition of a wealth manager in the grand duchy this quarter

Qatari investment group Precision Capital has agreed to buy a 90% stake in Dexia’s private banking unit, in its second acquisition of a wealth manager in the grand duchy this quarter.

The €730m deal, first announced in October, will leave Precision with a stake worth €657m in Dexia Banque Internationale à Luxembourg. Luxembourg will own the remainder.

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