COBALT advised Nordea in selling its shareholding in Luminor
2022 - 09 - 01
Luminor announced today the closing of a transaction whereby Nordea sold their last remaining 11.6% stake in Luminor to a consortium led by private equity funds managed by Blackstone. As a result of the transaction, Blackstone now owns 80.05% of Luminor, and DNB will continue to own the remaining 19.95%.
Luminor is the third largest provider of financial services in the Baltics, combining global know-how with local expertise.
Nordea’s gradual exit from Luminor over the years was agreed between Blackstone and Nordea in 2018 when Blackstone agreed to acquire its initial 60.1% shareholding in Luminor. We assisted Nordea throughout the exit process. The COBALT project team was led by Partner Kristel Raidla-Talur and Senior Associate Heleri Tammiste.
Read more from the official press release here