Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

BREAKING NEWS

BREAKING NEWS

Danske Bank to sell Estonian private loans unit to LHV in $458 million deal

Danske Bank to sell Estonian private loans unit to LHV in $458 million deal
FILE PHOTO: General view of the Danske Bank building in Copenhagen, Denmark, September 27, 2018. REUTERS/Jacob Gronholt-Pedersen -
Copyright
Jacob Gronholt-Pedersen(Reuters)
Text size Aa Aa

COPENHAGEN (Reuters) – Danske Bank, which has been embroiled in a major money laundering scandal, has agreed to sell its portfolio of Estonian private loans to LHV Pank in a deal worth $410 million euros (£324.1 million), LHV said on Monday.

Danske Bank said last year it had begun closing parts of its Estonian business which has been at the centre of an investigation into alleged money laundering and prompted a U.S. criminal investigation.

(Reporting by Stine Jacobsen; Editing by Stephen Coates)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.