Luminor announced today the closing of a transaction in the course of which the consortium led by Blackstone acquired a 60% majority stake in Luminor for a cash consideration of €1 billion. Each of Nordea and DNB will continue as holder of 20% of the shares in the bank. The transaction represents one the largest private equity deals in the Baltic history.
Luminor, Nordea and DNB were advised throughout the entire transaction, including upon applying for approvals from local and international supervisory authorities by COBALT’s pan-Baltic team led by partner Kristel Raidla-Talur and senior associates Heleri Tammiste and Karl Kull. The project also required significant contribution by partners Marina Kotkas, Karina Paatsi, Egon Talur, Sandija Novicka and Eva Suduiko, specialist counsels Andrejs Lielkalns and Aleksander Tsuiman, senior associates Monika Koolmeister, Heili Haabu, Liina Jents, Tõnu Kolts, Karli Kütt, Greete-Kristiine Kuru, Madis Reppo, Liina Saaremets, Kalev Saare and Aurelija Balčiūnė, associates Sven Böttcher, Marius Banys, Artūrs Valderšteins, Krišjānis Bušs and Sabīne Vilka, of counsel Toms Krūmiņš and assistant lawyers Julija Kostomarova, Kristiina Kraav, Johanna-Britt Haabu, Kirti Jürimäe, Johanna Lumiste and Milda Vaznelytė.
Please see the official press release from here: https://www.luminor.ee/en/news/blackstone-completes-acquisition-eu1-billion-majority-stake-luminor