Nov. 16 (Bloomberg) -- Arco, a shareholder of bailed-out lender Dexia SA, plans to liquidate some of its units, L’Echo reported without saying where it obtained the information.

Around 800,000 private partners have invested more than 1.4 billion euros ($1.9 billion) in Arco and in the case of bankruptcy the Belgian government has to pay out guarantees, according to the newspaper. The ultimate bill for the government should be lower and may total around 1 billion euros thanks to Arco asset sales, L’Echo said.

--Editor: Jones Hayden

To contact the reporters on this story: Ewa Krukowska in Brussels at ekrukowska@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net