With the invest in of 11.6% of Luminor Holding from Nordea, the consortium led by non-public fairness resources managed by Blackstone now owns 80% of Luminor Holding, the mother or father company of Luminor Financial institution.
In 2018, DNB Lender ASA (DNB) and Nordea Financial institution Abp (Nordea) entered into an agreement to sell 60.1% of their shares in Luminor Holding to a consortium of personal equity money managed by Blackstone (Blackstone). DNB and Nordea each retained 19.95% of the shares and Blackstone has expressed fascination in buying the remaining stake in Nordea in the coming decades.
As of December 2021, Blackstone has by now bought 8.4% of Luminor Holding’s shares from Nordea. Nowadays Blackstone announces the acquisition of the remaining 11.6% of Nordea shares. As a result of this transaction, Blackstone now owns 80.05% of the shares of Luminor Holding and DNB will continue to individual the remaining 19.95%.
Chairman of the Board of Luminor Financial institution and Luminor Keeping Nils Melngailis:“I am delighted with Blackstone’s sizeable aid as shown by their improved expenditure in Luminor and look forward to our continued partnership. I would also like to thank Nordea for funding the development of Luminor and for the guidance delivered.
Improved general performance, economical security and prudent danger management indicate that, less than the leadership of Luminor President Peter Bosek, the organization is very well positioned to continue the beneficial enhancement reached in recent many years. This will allow for us to broaden our pursuits to provide people and enterprises in all 3 Baltic international locations. I keep on to be inspired by our good results in executing the strategy and the willpower and resilience of the Luminor workforce to aid our group and the buyers we serve. ”
Luminor
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