Dexia BIL investigation closed
Wednesday 25 July 2012
On 25 July, the European Commission concluded that the sale of Dexia Banque Internationale à Luxembourg (Dexia BIL) did not involve state aid in the meaning of the EU rules and closed its in-depth investigation opened in April. The Commission found, in particular, that the sales price (€730 million) was in line with the market. Under the notified transaction, a private investor would acquire 90% of the sold business and Luxembourg the remaining 10% on the same terms. Several other investigations regarding state support in favour of Dexia are ongoing. In particular, on 31 May, the Commission extended the in-depth investigation into the orderly resolution plan of the Dexia group and temporarily approved prolongation of the refinancing guarantee to Dexia SA and Dexia Crédit Local (DCL).