Minister of Finance Johan Van Overtveldt launches privatisation of Belfius

Minister of Finance, Johan Van Overtveldt (N-VA) will submit a note he has prepared on the privatisation of Belfius to the inner cabinet after the holidays.

Internally, the directing committee will meet on Wednesday to set its priorities from among the possible scenarios. The board of directors will do the same on Thursday, report the daily newspapers, L’Echo and De Tijd.

Last February, the Belfius management indicated that it would be a good thing for the bank, which is 100% owned by the Belgian state, to be partially privatised within two years. The management of the bank expects a minimum of 30% listing on the stock market.

However, the decision rests with the federal government. The latter already seems to have considered the idea of ​​reducing its stake in Belfius without renouncing the majority, which would recover the four billion euros that the State disbursed at the end of 2011 to save the bank during the Dexia debacle, details L’Echo.

However, the IPO is not the only option. The government is also considering the possibility of selling one block of capital to one or more investors. According to the dailies, the American insurer, New York Life, would be interested. However, it is likely that the government would prefer a Belgian investor, they say, adding that the minister is not ruling out any options.

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