(Reuters) - Franco-Belgian group Dexia needs 90 billion euro in guarantees and is seeking approval for them from the European Commission, Chief Executive Pierre Mariani said on Friday.
Dexia was forced to sell its Turkish unit Denizbank to Russia's Sberbank in order to meet tier 1 capital requirements, he told a news conference in Istanbul. The sale of Denizbank, for 2.8 billion euros, increases its tier 1 capital ratio by 4 to 5 percent, he said. Mariani also said he saw no delay in the sale of Dexma, Dexia's municipal finance unit.
