With the buy of 11.6% of Luminor Keeping from Nordea, the consortium led by private equity funds managed by Blackstone now owns 80% of Luminor Keeping, the father or mother company of Luminor Lender.
In 2018, DNB Lender ASA (DNB) and Nordea Financial institution Abp (Nordea) entered into an arrangement to offer 60.1% of their shares in Luminor Holding to a consortium of personal equity funds managed by Blackstone (Blackstone). DNB and Nordea each and every retained 19.95% of the shares and Blackstone has expressed desire in obtaining the remaining stake in Nordea in the coming years.
As of December 2021, Blackstone has already bought 8.4% of Luminor Holding’s shares from Nordea. Today Blackstone announces the acquisition of the remaining 11.6% of Nordea shares. As a final result of this transaction, Blackstone now owns 80.05% of the shares of Luminor Keeping and DNB will keep on to personal the remaining 19.95%.
Chairman of the Board of Luminor Financial institution and Luminor Keeping Nils Melngailis:“I am delighted with Blackstone’s major guidance as demonstrated by their improved investment in Luminor and glimpse ahead to our ongoing partnership. I would also like to thank Nordea for funding the generation of Luminor and for the aid furnished.
Enhanced functionality, economic stability and prudent possibility management mean that, less than the leadership of Luminor President Peter Bosek, the business is very well positioned to go on the favourable improvement attained in latest a long time. This will enable us to extend our functions to serve men and women and corporations in all a few Baltic countries. I continue to be encouraged by our good results in executing the technique and the perseverance and resilience of the Luminor crew to help our community and the customers we provide. ”
Luminor
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