September 13, 2018 / 5:26 AM / 2 months ago

Nordea, DNB sell Baltic bank stake to Blackstone in $1.2 bln deal

OSLO, Sept 13 (Reuters) - Nordea and DNB have agreed to sell a 60 percent stake in Baltic bank Luminor to a Blackstone private equity consortium for 1 billion euros ($1.16 billion), the two Nordic banks said on Thursday.

Luminor, the third biggest bank in the Baltic region, was formed by the 2016 merger of Nordea’s and DNB’s operations in Estonia, Latvia and Lithuania. ($1 = 0.8601 euros) (Reporting by Terje Solsvik; Editing by Simon Cameron-Moore)

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