Nordea to sell its ownership in Luminor to Blackstone
As part of Nordea’s strategy to focus its operations to the Nordic core markets, Nordea, together with DNB, has entered into an agreement to jointly sell 60 per cent of Luminor to a consortium led by private equity funds managed by Blackstone (“Blackstone”). As a result of the transaction, each of Nordea and DNB will hold approx. 20 per cent of Luminor and maintain ongoing representation on Luminor’s Board of Directors. Nordea and Blackstone have additionally entered into a forward sale agreement for the sale of Nordea’s remaining 20 per cent stake over the near to medium term. The