Belgium to Buy Dexia's Local Consumer-Lending Unit
236 views · Published 10 October 2011 · 2:24 · Indexed 20 September 2026
Channel: Bloomberg Originals · 2011 · Entertainment
Oct. 10 (Bloomberg) -- Belgium agreed to buy the local consumer-lending unit of Dexia SA, ending a 15-year cross-border experiment with France after the European debt crisis deepened.
The Belgian federal government will pay 4 billion euros ($5.4 billion) for the division and guarantee 60 percent of a so-called bad bank to be set up for Dexia's troubled assets, Finance Minister Didier Reynders said at a press conference today in Brussels. Bloomberg's Nicole Itano and Linzie Janis report on Bloomberg Televisions "First Look." (Source: Bloomberg)
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