Rescue deal for Dexia

DexiaFrance, Belgium and Luxembourg have finalised a rescue deal for Dexia, which nearly collapsed last week. Dexia, which has has been struggling owing to its large exposure to Greek and Italian debt, is receiving its second bailout in three years. Belgium will acquire the shares of Dexia SA and its subsidiary Dexia Bank Belgium. Meanwhile, Belgium, France and Luxembourg will provide funding of a maximum of €90 billion for Dexia SA and its subsidiary Dexia Crédit Local. In a statement released today, Dexia says it has instructed its management to enter into exclusive negotiations with the Caisse des Dépôts et Consignations and La Banque Postale, which may see the conclusion of an agreement relating to the French local public finance sector. Last week, Dexia said it had entered exclusive discussions with the group of international investors, including the Luxembourg state, interested in the acquisition of Dexia Banque Internationale à Luxembourg. ©2011 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.