Legend buys Luxembourg bank

China’s Legend Holdings Corp announced Tuesday it has closed its purchase of around 90 percent of a Luxembourg bank, as part of the firm’s move into financial services.

According to a statement the company filed to the Hong Kong Stock Exchange, Legend said it paid 1.53 billion euros ($1.8 billion) for stakes in Banque Internationale à Luxembourg SA.

Legend said in the statement the deal officially closed on Monday and the purchase price shall be subject to certain postclosing adjustments.

Legend purchased the stake from Precision Capital SA, a Luxembourg-based financial holding company, and it first unveiled the deal in September 2017, according to media reports.