The bank had earlier made a similar bid when
Dexia Israel was controlled by the
Dexia global bank.
Previously,
Dexia said that this deal concludes the sale process set out in the amended orderly resolution plan cleared by the European Commission at the end of 2012.
Since 2008,
Dexia Group has received significant public support, authorised by the Commission in February 2010 subject to implementation of a restructuring plan.
France, Belgium, and Luxembourg decided to wind up
Dexia in 2011 after it sought its second bailout due to the financial crisis.
with
Dexia. Moody's believes that the operational, reputational and
They added that while the two sides may still reach an agreement,
Dexia could also decide to end the process and begin a new search for a buyer at a later date.
The deal follows Precision's agreement in October to buy the private banking business of
Dexia's Belgian rival KBC.
Dexia AM is a first-tier pan-European asset manager in charge of EoAeu80.5 billion (Dh406 billion) as of the end of September in assets, distributed among a full range of investment vehicles, including traditional management, alternative management and sustainable management.
The part-nationalization of Franco-Belgian
Dexia, announced Monday, was triggered by other banks' increasing reluctance to lend to it due to its exposure to highly indebted eurozone states like Greece and Italy and to struggling states in the United States.
The dismantling of
Dexia, once the world's leading lender to municipalities, became inevitable after concern over European sovereign debt holdings caused its short-term funding to evaporate.