Dexia in €4 Billion Sale of Dexia Bank Belgium to the Belgian State

Cleary Gottlieb is representing long-standing client Dexia in the nationalization, announced on October 9, 2011, of Belgian banking subsidiary Dexia Bank Belgium (DBB). Dexia’s 100% interest in DBB will be sold for an initial cash consideration of €4 billion.

Cleary Gottlieb is also advising Dexia on the new sovereign guarantees granted by the French, Belgian and Luxembourg States, as well as on possible further divestments.