European private equity giant CVC is planning to acquire a stake in the Belgian bank Belfius before its IPO.

According to reports, European private equity giant CVC is planning to acquire a stake in Belgian bank Belfius before it goes public. It is reported that the Belgian government plans to sell 20% to 30% of the state-owned bank Belfius in order to raise billions of euros for increased defense spending. Belgium has committed to increasing its defense spending to 2% of GDP by 2029.