IFLR1000

Blackstone $1 billion acquisition of 60% stake in Luminor

30/9/2019
Private acquisition
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€ 1 billion

$ 1.138 billion

Completed

30/9/2019

Overview:

  • Private equity firm Blackstone has acquired a 60% stake in Baltic bank Luminor from Nordea Bank and DNB Bank for €1 billion.
  • The deal is the largest M&A transaction in Baltic history.
  • Nordea and DNB will retain an equal 20% equity stake in Luminor, with Blackstone also agreeing to purchase Nordea's remaining 20% stake over the coming years.

Prin Shasiharan - Researcher

Jurisdictions:

Norway
Sweden
Estonia
Latvia
Lithuania

Deal type:

Private acquisition

Practice areas:

Private equity
M&A

Governing laws:

Sweden
Latvia
Lithuania
Estonia

Industry sector:

Banking

Firms:
A&O Shearman

Party: Blackstone (Acquirer)

Lawyers: Jim Ford, Nick Bradbury

BAHR

Party: DNB Bank (Acquirer)

Lawyer: Bjørn Gabriel Reed (left)

Cobalt

Party: Luminor (Target)

Lawyers: Andrejs Lielkalns, Aurelija Balčiūnė, Eva Suduiko, Gatis Flinters, Irmantas Norkus, Kristel Raidla-Talur, Marina Kotkas

Ellex

Party: Blackstone (Acquirer)

Lawyers: Gerli Kivisoo, Giedrius Stasevičius, Iveta Ceple, Jaanus Ikla, Sven Papp

Gernandt & Danielsson

Party: Nordea Bank (Seller)

Lawyer: Mats Hugoson

Hamilton

Party: Blackstone (Acquirer)

Sorainen

Party: DNB Bank (Seller)

Party: Nordea Bank (Seller)

Lawyers: Augustas Klezys, Rūdolfs Eņģelis

Walless

Party: Blackstone (Acquirer)

Lawyers: Dovilė Burgienė, Gediminas Rečiūnas, Laurynas Narvydas

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