DOHA: The Qatari owners of Banque Internationale a Luxembourg are considering a sale of their controlling stake in the private bank, which could fetch about $1.5 billion, according to people familiar with the matter.
Precision Capital, the investment vehicle of Qatar royal family members including former Qatari Prime Minister Sheikh Hamad bin Jassim bin Jabr Al Thani, is weighing a sale of the bank, the people said, asking not to be identified as the information is private. BIL could interest large private banks in Europe seeking to expand their business, the people said.
Precision is not running a formal sale process and is holding preliminary discussions with potential buyers, the people said. No final agreements have been reached and the owners may decide against a sale, the people said.
Representatives for Precision Capital, BIL and the Luxembourg Finance Ministry declined to comment.
