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)

By Reuters

Published on 03/06/2019 - 11:35•Updated 26/04/2024 - 03:11

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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.