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

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

Nordea, DNB sell Baltic bank stake to Blackstone in $1.2 billion deal
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Ints Kalnins(Reuters)
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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.

(Reporting by Terje Solsvik; Editing by Simon Cameron-Moore)

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