Nordea, DNB sell Baltic bank stake to Blackstone in $1.2 billion deal

Luminor bank flags flutter next to the bank's building in Riga, Latvia May 23, 2018. REUTERS/Ints Kalnins - Copyright Ints Kalnins(Reuters)

By Reuters

Published on 13/09/2018 - 08:04•Updated 23/04/2024 - 11:46

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OSLO (Reuters) - Nordea <NDA.ST> and DNB <DNB.OL> have agreed to sell a 60 percent stake in Baltic bank Luminor to a Blackstone <BX.N> private equity consortium for 1 billion euros ($1.16 billion), the two Nordic banks said on Thursday.

Luminor, the third biggest bank in the Baltic region, was formed by the 2016 merger of Nordea's and DNB's operations in Estonia, Latvia and Lithuania.