Government seeks investors for 20 per cent stake in Belfius

The federal government will be seeking investors from Monday for the 20 per cent stake in Belfius bank that it wishes to sell. Further details are expected to follow via the state investment company SFPIM, which will be tasked with issuing an official call for investors.

The government announced in December that it intended to sell a 20 per cent stake in the bank and insurer, with the sale expected to raise up to 2 billion euros. The Belgian state is the sole shareholder.

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At the time, Finance minister Jan Jambon of N-VA said the transaction would not take place via an initial public offering and that the government would attract investors. This process will now be launched on Monday via the SFPIM.

The agency is also to carry out a study into the future of insurer Ethias, De Tijd reports. Georges-Louis Bouchez, leader of francophone liberal party MR, wants Ethias and Belfius to merge before his party gives the green light for the sale of the bank.

The decision was taken during the restricted ministerial committee meeting on Saturday.

^{Belfius headquarters tower Brussels © PHOTO WERNER LEROOY}

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