DEXIA


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AcronymDefinition
DEXIADominica Export Import Agency
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The bank's recurring loss amounted to EUR 212 million, down EUR 183 million from the previous quarter, Dexia said on Wednesday.
As mentioned in early January when the deal was announced, Dexia is selling the stake for a firm price of EUR49.
The long-term deal is with Dexia and several European major funding agencies to build and run their IT infrastructure earlier managed by Associated Dexia Technology Services (ADTS).
Any transaction will also be subject to the employee consultation process, Dexia noted.
He noted that Belfius, now owned by Belgian state, will focus on its core banking and insurance business while Dexia Municipal Agency will be turned into a new development bank in France.
The commissioner explained that Dexia and Dexia Credit local will undergo an orderly resolution, and that Belfius, its former subsidiary nationalised by the Belgian state, will cut all links with Dexia and will "implement a restructuring plan that will restore its long-term viability".
Dexia is to announce the impacts of the deal on its financials once the divestment is completed.
RBC has been in talks since last year to buy out the remaining stake as its European partner, Dexia SA (DEXB.
The sale price values Dexia Banque Internationale a Luxembourg at 5.
Undeterred by the recent restructuring of its parent group, Dexia AM is determined to expand its regional presence.
BRUSSELS: The Belgian state will buy the national subsidiary of embattled bank Dexia for 4 billion euros ($5.
Dexia confirmed its board would meet in Paris on Saturday to vote on a break-up plan after Belgium and France pledged to guarantee its financing in the face of a dramatic share-price slide.